Question
In 2013, allen appleton sells his business to david, but he sells the claim against fred that arose during the course of his business to
In 2013, allen appleton sells his business to david, but he sells the claim against fred that arose during the course of his business to george, who is not in a business. The claim becomes worthless in george's hands in 2014. Can george take a business loss for the bad debt since it originally arose in the course of a business?
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Financial Accounting And Reporting
Authors: Barry Elliott, Jamie Elliott
13th Edition
0273730045, 978-0273730040
