Which of the following is a capital asset? (a) The bicycle of a 10-year old child. The

Question:

Which of the following is a capital asset?
(a) The bicycle of a 10-year old child. The child purchased the bicycle with money inherited from an aunt.
(b) The tools used by a self-employed carpenter.
(c) The lots owned by a company that is in the business of buying and reselling residential building lots.
(d) A “mint” set of 1985 coins owned by a coin and that is for sale on his website.
(e) None of the above

Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...