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monetary exchange of equipment, if the exchange has commercial substance, a gain is recognized it Multiple Choice The fair value of the equipment received exceeds

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monetary exchange of equipment, if the exchange has commercial substance, a gain is recognized it Multiple Choice The fair value of the equipment received exceeds the book value of the equipment received The book value of the equipment received exceeds the fair value of the equipment given up The fair value of the equipment surrendered exceeds the book value of the equipment given up None of these answer choices are correct monetary exchange of equipment, if the exchange has commercial substance, a gain is recognized it Multiple Choice The fair value of the equipment received exceeds the book value of the equipment received The book value of the equipment received exceeds the fair value of the equipment given up The fair value of the equipment surrendered exceeds the book value of the equipment given up None of these answer choices are correct

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