Which of the following statements are true? The deferral of gain on a qualified...
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Accounting
Which of the following statements are true? The deferral of gain on a qualified likekind exchange is required, while the deferral of gain on a qualified involuntary conversion is elective. Land is always considered a asset. 
Which of the following statements are true?
The deferral of gain on a qualified likekind exchange is required, while the deferral of gain on a qualified involuntary conversion is elective.
Land is always considered a asset.
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