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Business, 25.02.2020 22:57 aliami0306oyaj0n

Taylor Company purchased a piece of equipment for $2,000 several years ago. It would cost $4,000 to replace that piece of equipment. A. The equipment should be recorded at $4,000 in the accounting records because that is the replacement cost. B. The company can choose whether to report the equipment at $2,000 or $4,000. C. The equipment should be recorded at $2,000 in the accounting records because that was the exchange price. D. None of the above are correct.

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