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Assume each of the following assets were sold during 2021. Classify each asset as either capital, ordinary, or 1231 (quasi-capital): Truck used in a snowplowing
Assume each of the following assets were sold during 2021. Classify each asset as either capital, ordinary, or 1231 (quasi-capital):
- Truck used in a snowplowing business.
- 100 shares of Stryker Corp. stock.
- Accounts receivable belonging to the snowplowing business.
- Books held for sale as part of an online bookstore business.
- A baseball card collection.
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