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The Carrying Amount of an Asset Is Equal to the

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Equal to the balance of the related accumulated amortization account. A liabilitys tax base is the carrying amount of the liability less any. Carrying Value Definition B no gain or loss on disposal is recorded. . Assets cost less accumulated depreciation. Transcribed image text. These factors may not reflect what the asset would sell for. The unit included the following assets. Which statement is true when a financial asset at FVOCI is reclassified to FVPL. If the carrying amount of an asset equals its selling price at the date of sale then a a gain on disposal is recorded. The carrying amount is usually not included on the balance sheet as it must be calculated. An assets tax base is the amount that will be deductible for tax purposes in future periods once the economic benefits of the asset have been realized and a company can recover its carrying amount. Since in the exchange of plant asset Transit Co.
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