Why is a gain or a loss not recorded in the income statement when a company reacquires

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Why is a gain or a loss not recorded in the income statement when a company reacquires its shares and buys them back for an amount that is different from their average cost?
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Financial Accounting Tools for Business Decision Making

ISBN: 978-1119368458

7th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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