When an intangible asset is acquired by an exchange of assets,which of the following measures will need to be considered in the determination of that cost?
A)The fair value of the asset given up.
B)The initial cost of the asset given up.
C)The carrying amount of the asset received.
D)The replacement cost of the asset received.

Question

Quizplus · Accepted Answer

The cost of an intangible asset acquired in exchange for another asset is generally measured at the fair value of the asset given up, unless the fair value of the asset received is more clearly evident.

When an Intangible Asset Is Acquired by an Exchange of Assets,which