Cassie Owns a Rembrandt Painting She Acquired on June 1,2008

question 38

Multiple Choice

Cassie owns a Rembrandt painting she acquired on June 1,2008 as an investment.She exchanges the painting on September 5,2014,for a Picasso sculpture and marketable securities to be held as an investment.On what date does the sculpture's holding period begin?

• A)June 1,2008
• B)June 2,2008
• C)September 5,2014
• D)September 6,2014

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