When subscription is made at a price in excess of the par value of the share capital,

A. The share premium is recognized at the date of the subscription.

B. The share premium is recognized at the date of the subscription price only if fully collected.

C. No entry is made, except if a down payment is collected.

D. Share capital account is credited equal to the subscription price.

Assuming all of the following are reliably determinable, the best basis to measure the non-cash asset received by a corporation in exchange for shares issued is the

A. Par value of the shares issued

B. Fair value of the shares issued

C. Carrying value in the books of the shareholder of the non-cash asset contributed

D. Fair value of the non-cash asset received