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In a trade of similar assets, a gain a. Is not recognized and is recorded as an adjustment to the old asset's book value b.

In a trade of similar assets, a gain

a. Is not recognized and is recorded as an adjustment to the old asset's book value

b. Is not recognized and is recorded as an adjustment to cost of the new asset

c. Is not recognized and is recorded as an adjustment to cost of the old asset

d. none of these

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