When boot is involved in an exchange having commercial substance.
a. gains or losses are recognized in their entirely.
b. a gain or loss is computed by comparing the fair value of the asset received with the fair value of the asset given up.
c. only gains should be recognized.
d. only losses should be recognized.
Ans: a. gains or losses are recognized in their entirely.
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Indicate whether the statement is true or false
A differentiation strategy works well when ________
A) a company designs a universal product for a broad market B) buyers believe minor product differences are irrelevant to price C) buyers are highly sensitive to price shifts and quality control D) a company can continually develop products that have unique features