Record share transactions.

Question

Quizplus · Accepted Answer

The Answer is If only one class of shares is issued, they are considered to be common shares.When shares are issued for noncash goods or services in a company using IFRS, the fair value of the goods or services received is used to record the transaction if it can be reliably determined.If not, the fair value of the common shares is used.For a private company following ASPE, the more reliable of the two fair values should be used, which is usually also the fair value of the goods or services received.

If only one class of shares is issued, they are considered to be common shares.When shares are issued for noncash goods or services in a company using IFRS, the fair value of the goods or services received is used to record the transaction if it can be reliably determined.If not, the fair value of the common shares is used.For a private company following ASPE, the more reliable of the two fair values should be used, which is usually also the fair value of the goods or services received.

Record Share Transactions