Answer
If an intangible asset is acquired for stock, the cost shall either be the fair value of the consideration given or received, whichever is more reliable.
Work Step by Step
As summarized above.
Intermediate Accounting (16th Edition)
by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.
Published by
Wiley
ISBN 10:
1118743202
ISBN 13:
978-1-11874-320-1
Chapter 12 - Intangible Assets - Review and Practice - Questions - Page 637: 2
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