[Ralphie Dos Nachos]

Question

in becker F3mod6 they first talk about transactions that do have commercial substance/ are MONETARY exchanges. Is this like any other transaction that would involve a car/building for example in any of the other chapters meaning are all the other transactions regarding assets the same as monetary exhanges?

if that makes sense

[JR Battle]

all transactions on the CPA exam are monetary exchanges, unless the question states that the transaction is a nonmonetary exchange or the transaction lacks commercial substance. Sometimes this is not explicitly stated, but can be concluded from question details. The textbook has 4 good examples: monetary exchanges, nonmonetary exhanges no boot, nonmonetary exchanges with boot given up, and nonmonetary exchanges with boot received. Make sure to finish all the multiple choice, I think Becker does a good job explaining this topic. 1st do the math for gain/loss, 2nd apply the rules. Hope this helps, good luck

[Author]

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