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1. When common stocks are issued in exchange of a noncash asset, an both the (fair) market value of new common shares and noncash asset

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1. When common stocks are issued in exchange of a noncash asset, an both the (fair) market value of new common shares and noncash asset are observable, the acquired i asset' s acquisition cost should be recorded under IFRS statements at an amount equal to: sold for less than their acquisition cost, and there were no previous gain on treasury stock sales, the difference between the sales price and acquisition cost is debited to: a. The book value of noncash asset b. The par value of new shares issued c. The market value of new shares issued d. The fair value of noncash asset 2. If treasury shares are sold for less than their acquisition cost, and there were no previous gain on treasury stock sales, the difference between the sales price and acquisition cost is debited to: a. Paid-in capital Treasury Stock b. Retained earnings c. Common Stock d. Paid-in Capital in Excess of Par

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