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10. Which of the following statements about involuntary conversions is false? a. An involuntary conversion may result from condemnation or fire. b. The gain or

10. Which of the following statements about involuntary conversions is false? a. An involuntary conversion may result from condemnation or fire. b. The gain or loss from an involuntary conversion is reported in other income and expense on the income statement. c. No gain or loss from an involuntary conversion should not be recognized d. None of these answer choices are false

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