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11 July, 04:05

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

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  1. 11 July, 04:10
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    Fair Value of Non - Monetary Asset Given Up

    Explanation:

    IAS 16 requires that the Fair Value of Non - Monetary Asset Given Up be the measurement cost of a nonmonetary asset acquired in exchange for another nonmonetary asset when the exchange has commercial substance.

    If Fair Value of Non - Monetary Asset Given Up can not be reliably obtained then use the Fair Value of Non - Monetary Acquired to measure cost of a nonmonetary asset acquired.
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