Business, 24.10.2019 03:30 mamieengler

In a nonmonetary exchange of equipment, if the exchange has commercial substance, a gain is recognized it: a. the fair value of the equipment received exceeds the book value of the equipment received. b. the book value of the equipment received exceeds the fair value of the equipment given up. c. the fair value of the equipment surrendered exceeds the book value of the equipment given uup. d. none of the above is correct.

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