Sailing is the name of a small sculpture created by an artist, Tessa. The owner of the

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Sailing" is the name of a small sculpture created by an artist, Tessa. The owner of the sculpture sold the sculpture and recognized a gain of $45,000. Which of the following statements is false?

A.If an art gallery is the seller, the gain is ordinary

B.If a private collector is the seller, the gain is capital gain.

C. If Tessa is the seller, the gain is ordinary income.

D.None of the other answers is false

Related Book For answer-question

Statistics The Art and Science of Learning from Data

ISBN: 978-0321755940

3rd edition

Authors: Alan Agresti, Christine A. Franklin

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Posted Date: Oct 20, 2020 11:19 PM

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Sailing is the name of a small sculpture created by an artist, Tessa. The owner of the

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C If Tessa is the seller the gain is ordinary income E... View the full answer

Statistics The Art and Science of Learning from Data

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