The Cost of a Noncash Asset Acquired in Exchange for Common

question 123

True/False

The cost of a noncash asset acquired in exchange for common stock should be either the fair value of the consideration given up or the consideration received whichever is more clearly determinable.

---

Definitions:

Species Specific

Characteristics or behaviors that are unique to a particular species.

Hybrid Inviability

A postzygotic barrier where offspring resulting from the mating of two different species die prematurely due to genetic incompatibilities.

Alloploid

An organism having two or more sets of chromosomes that are derived from two different species.

Chromosomes

Proteinous, string-like entities situated in the cell nucleus of animals and plants, containing a single DNA molecule.