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Which one of the following statements is true? Receipts in the ordinary course of business are notordinary income. Capital receipts are ordinary income. Mutual receipts

Which one of the following statements is true?

Receipts in the ordinary course of business are notordinary income.

Capital receipts are ordinary income.

Mutual receipts are not ordinary income.

Windfall gains are ordinary income.

Interest receipts are not ordinary income.

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