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Problem 1: Which of the following statements regarding the installment sale of an entire business is faults .the sale price and expense of sale of an entire business must be allocated because
1) real and personal property can be reported on the installment method but inventor of personal property cannot
2) any depreciation recapture income from the sale of deppreciable property cannot be reported on the installment method
3) Assets sold at a loss cannot be reporting using installment method
4) Intangible property cannot be reported using the installment method
Financial Statement Analysis and Preparation
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