Under IFRS, Corporations That Issue Shares in Return for Noncash

question 84

Multiple Choice

Under IFRS, 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) the book value of the common shares given up.

---

Definitions:

Somnambulism

Another term for sleepwalking, a disorder causing people to walk or perform other complex behaviors while asleep.

Narcolepsy

An ongoing sleeping disorder identified by intense drowsiness in the daytime and sudden sleep onslaughts.

Night Terrors

A sleep disorder causing feelings of panic or dread typically occurring in the first hours of NREM sleep, with the individual often having no memory of the event.

Slow-Wave Sleep

A deep sleep stage characterized by slow brain waves, minimal muscle activity, and slowed heart rate, essential for restorative sleep.