Question: TRUE OR FALSE 1. When shares without par value are sold, the proceeds shall be credited to the share capital to the extent of the

TRUE OR FALSE

1. When shares without par value are sold, the proceeds shall be credited to the share capital to the extent of the stated value and the excess is credited to share premium.

2. The cost of treasury shares acquired for noncash consideration is the fair value of the noncash asset surrendered.

3. The measurement if noncash proceeds from the reissue of treasury shares is the fair value of the noncash consideration received.

4. Subscription receivable from sale of shares which are not collectible currently shall be presented as a deduction from the related subscribed share capital in the shareholder's equity portion of the balance sheet.

5. Immediately after quasi-reorganization, the retained earnings account will have a credit balance equal to the writedown of assets.

6. Changes in the par value of share capital shall be charged to share premium.

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