Sheetal is a sole proprietor who has some outstanding recelvables to sell. The receivables have...
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Accounting
Sheetal is a sole proprietor who has some outstanding recelvables to sell. The receivables have a $ FMV and a basis of $ Sheetal sells the receivables for $ What gain or loss is recognized on the sale? Multiple Choice $ capital loss $ ordinary loss $ capital gain $ ordinary gain 
Sheetal is a sole proprietor who has some outstanding recelvables to sell. The receivables have a $ FMV and a basis of $ Sheetal sells the receivables for $ What gain or loss is recognized on the sale?
Multiple Choice
$ capital loss
$ ordinary loss
$ capital gain
$ ordinary gain
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