Choice "c" is correct. An automobile for personal use is a capital
asset.
Choice "b" is incorrect. Depreciable business property is a Section 1231
asset, not a capital asset.
Choice "a" is incorrect. Accounts receivable for inventory sold is an
ordinary income asset, just like the original inventory.
Choice "d" is incorrect. Real property used in a trade or business is a
Section 1231 asset, not a capital asset.
