In the case of an exchange of similar long-term assets resulting in a loss on disposal, the cost of the new asset acquired is equal to the ______________ of the asset given up plus any cash paid by the purchaser.

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The Answer of In the case of an exchange of similar long-term assets resulting in a loss on disposal, the cost of the new asset acquired is equal to the ______________ of the asset given up plus any cash paid by the purchaser.

In the Case of an Exchange of Similar Long-Term Assets