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An asset exchange is recorded at the carrying amount of the asset given up ifSelect one:a . the exchange is non - monetary or the

An asset exchange is recorded at the carrying amount of the asset given up ifSelect one:a

.

the exchange is non

-

monetary or the amount of cash involved is very small.b

.

the exchange lacks commercial substance.c

.

the assets exchanged are similar.d

.

any of the above conditions are true.

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