A gain on the sale of which of the following assets will not result in a capital
Question:
A gain on the sale of which of the following assets will not result in a capital gain?
a. Stock in a public company
b. A home used as a personal residence
c. Goodwill of a corporation
d. Inventory of a corporation
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...
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Related Book For 
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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