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Treasury stock carried in the Equity section as a contra-equity account reflects the price paid for the common stock repurchased. The account is said to

Treasury stock carried in the Equity section as a contra-equity account reflects the price paid for the common stock repurchased. The account is said to report this as a _________ measure. This means that the measure is fixed at the acquisition price paid for the stock and does not vary with each reporting date so long as the Common Stock is held for reissuance.

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