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Home Q & A Board Other Fields Homework Help Business Accounting
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Fast2F Fast2F
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7 years ago
When an asset is exchanged for a similar asset and a gain results, under accounting rules the gain is:
A) recorded in the other income section of the income statement.
B) credited to Gain on Exchange of an Asset.
C) subtracted from the cost of the new asset.
D) absorbed into the cost of the new asset.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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OmpaOmpa
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7 years ago
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Fast2F Author
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this is exactly what I needed
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This helped my grade so much Perfect
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This calls for a celebration Person Raising Both Hands in Celebration
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