When an exchange of nonmonetary assets results a loss, the loss should be recognized only if the exchange has no commercial substance. recognized only if the exchange has commercial substance. always recognized. none of the above. Question 16 (1.54 points) If an exchange has commercial substance, the transaction must change future earnings change assets change future cash flow change equities Question 17 (1.54 points) Company Cubs has Equipment A with a fair market value of $80,000. It cost $220,000 and has accumulated depreciation of $100,000. Equipment A is exchanged for a new equipment B and no cash is received or paid. The book value of the equipment A is 80,000 120,000 O 100,000 O 220,000