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QUESTION 3 Which of the following transactions will generate ordinary incomelloss treatment if it were the only gain or loss for the year? Select

QUESTION 3 Which of the following transactions will generate ordinary incomelloss treatment if it were the only gain or loss for the year? Select as many as apply. Gain on sale of inventory held 2 years Loss on sale of machinery held 2 years Gain on sale of computer held 9 months Gain on sale of land held for 6 years Gain on sale of building held 15 years Loss on sale of building for 10 years Loss on sale of land held 11 months

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