11. Common shares are issued in exchange for a noncash asset. Under IFRS, the noncash asset should be recorded at: A. The average cost of the common shares in the common shares account. B. The fair market value of the shares. C. The fair market value of the asset acquired. D. The fair market value of the asset acquired or the fair market value of the common shares if the fair market value of the asset cannot be reliably determined. E. None of the above