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In case one asset of the company is sold and another is bought in exchange, loss on disposal of asset will be recorded if :

a. Trade in discount is greater than carrying value of the asset. b. Trade in discount is less than carrying value. c. Trade in discount is equal to carrying value.

Accounting Financial Reporting Financial Accounting Financial Management
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Question added by Deleted user
Date Posted: 2014/08/21
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VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

a. Trade discount is greater than carrying cost of the asset.

Menerva Melad
by Menerva Melad , Account Executive, Key Accounts , Graphic Home Company

Trade in discount is less than carrying value

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