A business enterprise obtaining fixed asset by the exchange of another fixed asset which has significant commercial

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A business enterprise obtaining fixed asset by the exchange of another fixed asset which has significant commercial substance should recognize the asset initial at

(a) Fair value of asset given up

(b) Replacement value

(c) Carrying cost of asset given up

(d) Fair value of asset acquired

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Financial Accounting

ISBN: 9780071078023

1st Edition

Authors: Dhanesh K. Khatri

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Question Posted: Dec 16, 2023 11:18 PM

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A business enterprise obtaining fixed asset by the exchange of another fixed asset which has significant commercial

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Financial Accounting

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