In an asset exchange, what does the term 'boot' refer to, and how does it affect the accounting transaction?

• A. Boot refers to the trade-in value of the old asset, and it increases the net book value.
• B. Boot is the additional cash paid during the exchange, affecting the total cost of the new asset.
• C. Boot is the accumulated depreciation of the old asset, reducing the gain on exchange.
• D. Boot is the list price of the new asset, and it has no impact on the transaction.

Answer: (B)