Final answer:
Stock issued in non-cash transactions should be recorded at the fair market value of the stock issued or the property received, whichever is more readily determinable.
Step-by-step explanation:
The correct answer is D. Fair market value of the stock issued or the property received, whichever is more readily determinable.
When stock is issued in non-cash transactions, it should be recorded at the fair market value of the stock issued or the fair market value of the property received, whichever is more readily determinable. This means that the value of the stock should be based on its current market value or the value of the property received, depending on which is easier to determine.
For example, if a company issues stock in exchange for a piece of property, the recorded value of the stock should be based on its fair market value at the time of the transaction. If the fair market value of the property received is easier to determine, then that value should be used instead.