A) For tax purposes, the sale of inventories is treated differently than the sale of non-depreciable capital assets. Briefly describe the different treatments given to these two types of sales.
B) List five criteria that can be used in distinguishing between business income and capital gains. Explanations are not required.

Answer rating: 100% (QA)

A The sale of inventories is considered ordinary income and is taxed at the regula... View the full answer