Under ASPE, Corporations That Issue Shares in Return for Noncash

question 121

Multiple Choice

Under ASPE, corporations that issue shares in return for noncash assets should record the transaction at

• A) the fair market value of the asset acquired.
• B) the original cost of the asset acquired.
• C) the fair market value of the common shares given up.
• D) whichever is most reliable, fair value of assets acquired or fair value of shares issued.