Q: What common eight-letter noun can be shortened in two ways — using either its first three letters or its last four letters? The answer is a familiar item.Gasoline is NOT the answer, but an example. While "gas" is a shortened form of gasoline, "line" is not.
Edit: Gasoline has the same syllable structure as the answer. You might see the item in the checkout line
A: MAGAZINE --> MAG, ZINE