For a nonmonetary exchange of plant assets, accounting recognition should not be given to
a.a loss when the assets exchanged are similar.
b.a gain when the assets exchanged are dissimilar.
c.part of a gain when the assets exchanged are similar and cash is paid.
d.part of a gain when the assets exchanged are similar and cash is received.
2006-06-27 09:34:55 · 3 answers · asked by Anonymous in Education & Reference ➔ Homework Help
In keeping with the accounting principle of conservatism, a non-monetary gain is NEVER recognized and a loss is always recognized.
the answer is A.
2006-06-27 10:11:56 · answer #1 · answered by davidvario 3 · 0⤊ 0⤋
you got me! but my sister is an accounting major in college,,, i sent your question to her... good luck
have you tried looking this up in your textbook?
2006-06-27 16:41:22 · answer #2 · answered by hippychickz38 4 · 0⤊ 0⤋
a.b.c.and d.
2006-06-27 16:40:37 · answer #3 · answered by Timothy Summer 3 · 0⤊ 0⤋