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Find how should the asset acquired be recorded

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Problem 1: When the acquisition of an asset is through means of an exchange with another asset, and both the book value and fair value of the assets are known, how should the asset acquired be recorded?

a. fair value of asset surrendered.
b. book value of asset surrendered.
c. fair value of asset received plus cash paid, if any. (someone wanna check this)
d. book value of asset received.
e. amount of cash paid only.

Reference no: EM132741392

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