We give an elementary characterization of those abelian monoids M that are direct limits of countable sequences of finite direct sums of monoids of the form either (Z/nZ) ⊔ {0} or Z ⊔ {0}. This characterization involves the Riesz refinement property together with lattice-theoretical properties of the collection of all subgroups of M (viewed as a semigroup), and it makes it pos- sible to express M as a certain submonoid of a direct product � × G, where � is a distributive semilattice with zero and G is an abelian group. When applied to the monoids V (A) appearing in the nonstable K-theory of C*-algebras, our results yield a full description of V (A) for C*-inductive limits A of finite sums of full matrix algebras over either Cuntz algebras On, where 2 ≤ n < ∞, or corners of O1 by projections, thus extending to the case including O1 earlier work by the authors together with K.R. Goodearl.
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