Multiple Choice
When stock is issued for noncash assets or services,the dollar amount to be recorded for this exchange is determined by the
A) treasurer of the corporation.
B) par value of the stock.
C) market value of the stock or the market value of the consideration received,whichever is greater.
D) market value of the stock or the market value of the consideration received when the market value of the stock cannot be determined.
Correct Answer:
Verified
Correct Answer:
Verified
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