Question: Under ASPE, where debt is exchanged with new terms that are not substantially different from the original terms the original debt remains on the debtor's

Under ASPE, where debt is exchanged with new terms that are not substantially different from the original terms 


the original debt remains on the debtor's books. 


no gain or loss is recognized. 


future interest expense is recalculated based on the new terms. 


All of the choices are correct.

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