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(c) R. Federer is examining Agassi's financial statements and wonders whether the gains or losses on Agassi's treasury stock transactions should be included in income
(c) R. Federer is examining Agassi's financial statements and wonders whether the "gains" or "losses" on Agassi's treasury stock transactions should be included in income for the year. Briefly explain whether, and the conceptual reasons why, gains or losses on treasury stock transactions should be recorded in income.
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