ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Seite 127

S45. The cost of a nonmonetary asset acquired in exchange
for another nonmonetary asset and the exchange has
commercial substance is usually recorded at

a. the fair value of the asset given up, and a gain or loss is
recognized.

b. the fair value of the asset given up, and a gain but not a
loss may be recognized.

c. the fair value of the asset received if it is equally reliable
as the fair value of the asset given up.