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What does Code Sec. 108(a)(3) prescribe as the amount of cancellation of indebtedness that can...

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Accounting

What does Code Sec. 108(a)(3) prescribe as the amount of cancellation of indebtedness that can be excluded for income purposes: a.like bankruptcy, there is no limit b.the excess of the fair market value of assets over the liabilities c.the excess of liabilities over the fair market value of the assets d.the fair market value of the assets

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