Under Both IFRS and U

question 43

Multiple Choice

Under both IFRS and U.S. GAAP, in an equity-settled share-based payment transaction, how are such payments to non-employees measured?

• A) At the cost of the goods or services received.
• B) Both standards are silent as to the treatment of payments to non-employees.
• C) Always the fair value of the equity instrument.
• D) At the fair value of goods or services received, if a reliable determination is available-otherwise, the fair value of the equity instrument.

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Definitions:

Natural Rights

Rights that individuals are born with, which are not contingent upon laws, customs, or beliefs, often including the right to life, liberty, and property.

American Revolution

The period (1765-1783) during which thirteen of Britain's North American colonies successfully fought for their independence to become the United States of America.

Thomas Jefferson

The third President of the United States (1801-1809), principal author of the Declaration of Independence, and a founder of the Democratic-Republican Party.

First Continental Congress

A meeting of delegates from 12 of the 13 American colonies in 1774, convened to respond to Britain's Intolerable Acts, leading to the drafting of the Declaration of Independence.