If a corporation sells certain assets for more than their initial purchase price, the difference between the sale price and the purchase price is called a(n)
A. ordinary gain.
B. capital loss.
C. capital gain.
D. ordinary loss.
Answer:C
If a corporation sells certain assets for more than their initial purchase price, the difference between the sale price and the purchase price is called a(n)
A. ordinary gain. B. capital loss. C. capital gain. D. ordinary loss.