Question: When personal property is repossessed, ___________________. A. only the gain is reported. B. only the loss is reported. C. The gain or loss and any

When personal property is repossessed, ___________________.

A. only the gain is reported.

B. only the loss is reported.

C. The gain or loss and any bad debt is reported.

D. The gain or loss is reported, but not the bad debt.

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