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Question
When a fixed asset is acquired in exchange for another asset, its cost is usually determined by reference to the_________________.
When a fixed asset is acquired in exchange for another asset, its cost is usually determined by reference to the_________________.
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Solution
The correct option is A Net book value of the asset given up
When a fixed asset is acquired in exchange for another asset, its cost is usually determined by reference to the net book value. Net book value of the asset given up is the cost less depreciation.
When a fixed asset is acquired in exchange for another asset, its cost is usually determined by reference to the net book value. Net book value of the asset given up is the cost less depreciation.
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