Question

Select all that apply

Which of the following qualify as property under Section 351? (Check all that apply.)

A. Cash
B. Real property
C. Trademarks
D. Stocks or securities
E. Patents
F. Inventory
G. Accounts receivable

Answer 1

The items that qualify as property under Section 351 are cash, real property, trademarks, stocks/securities, patents, inventory, and accounts receivable.

Step-by-step explanation:

Under Section 351, the following options qualify as property:

Cash: Money in the form of currency or bank accounts.

Real property: Land and any structures which are the built on it.

Trademarks: Intellectual property that represents a particular brand or product.

Stocks or securities: Ownership in a company or investments that represent financial value.

Patents: Exclusive rights over an invention or process.

Inventory: Goods that a business has produced but not yet sold.

Accounts receivable: Money owed to a company by its customers for goods or services provided.