When a fixed asset is acquired in exchange for another asset, the cost of the asset acquired

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When a fixed asset is acquired in exchange for another asset, the cost of the asset acquired should be recorded
A. At replacement cost
B. At fair value
C. At the net book value of the asset given up only

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Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015

ISBN: 9789352605569

2nd Edition

Authors: M Hanif, A Mukherjee

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Question Posted: Aug 18, 2023 01:32 PM

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When a fixed asset is acquired in exchange for another asset, the cost of the asset acquired

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Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015

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