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Business, 27.08.2019 05:20 olguita82

In an exchange of plant assets, transit co. received equipment with a fair value equal to the carrying amount of equipment given up. transit also contributed cash. the exchange lacks commercial substance. as a result of the exchange, transit recognizeda. a loss equal to the cash given up. b. a loss determined by the proportion of cash paid to the total transaction value. c. a gain determined by the proportion of cash paid to the total transaction value. d. neither gain nor loss.

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