A corporation bought a piece of used equipment by exchanging 20,000 shares of treasury stock. The treasury stock had a par value of $10 per share and had been originally issued for $14 per share. The current fair market value of the treasury stock is $13 per share. The equipment had been purchased by the seller three years earlier for $300,000 but had accumulated depreciation of $25,000. For what amount should the corporation record the purchase on its books? Research and development costs are usually required under generally accepted accounting principles to be expensed in the period when they are incurred. This treatment appears to violate which of the following accounting concepts