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  3. 6. gain realized on a like-kind exchange is exclud

6. Gain realized on a like-kind exchange is excluded from income in all of the...

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Question

Accounting

6. Gain realized on a like-kind exchange is excluded from income in all of the following circumstances except:

A.

When boot is given.

B.

When boot is received.

C.

When a liability is assumed.

D.

Both b and c.

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