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Identify the character of the following asset based on the information given. You can use each character classification for Question 1 more than once. A
Identify the character of the following asset based on the information given. You can use each character classification for Question 1 more than once. A company acquired land in Year T-6 and had its office built on the land. The office and land were sold in Year T. (The asset Im asking about here is the land.) A. Ordinary asset B. Sec. 1231 asset C. Short-term capital asset D. Long-term capital asset
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