14. Sailing" is the name of a small sculpture created by an artist, Tessa.The owner...
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Accounting
14. 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
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