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Home Q & A Board Other Fields Homework Help Business Accounting
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Fast2F Fast2F
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6 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
Author:
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OmpaOmpa
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6 years ago
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Fast2F Author
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6 years ago
Thank you, thank you, thank you!
kevin12323h
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Yesterday
Helped a lot
DaiwalkerX
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2 hours ago
Thanks
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