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1. All of the following assets are sold in the current tax year at a loss. which of them will result in an ordinary loss rather than a capital loss or an IRC Section 1231 loss?

sale of a delivery van by a business

sale of a painting held in inventory by an art dealer

sale of a retail store by its owner

sale of a self-created musical composition

2. Which of the following perils is not covered under any of the standard homeowner's forms?

a. Windstorm b. Theft c. Smoke d. Flood

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92696262

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