Accounting for Share-Based Payment Transactions:

1.Share-based payment transactions arise when an entity __________ goods or services in exchange for equity instruments.

a) Purchases b) Receives c) Sells d) Donates

2.The fair value of equity instruments granted should be __________ on the grant date.

a) Recognized b) Estimated c) Disclosed d) Amortized

3.The measurement of share-based payment transactions is based on the fair value of the __________ instruments granted.

a) Liability b) Equity c) Cash d) Debt