Which of the Following Is Not True

Which of the following is not true?

A) Firms issue common stock for assets other than cash, for example, to acquire another firm.
B) Firms generally issue common shares, both at the time of initial incorporation and in subsequent years, for amounts greater than par (or stated) value.
C) The firm records the shares exchanged for noncash assets at the fair value of the shares given or, if the firm cannot make a reasonable estimate, at the fair value of the assets received.
D) Firms may issue capital stock (preferred or common) for cash or for noncash assets.
E) Firms generally issue preferred shares, both at the time of initial incorporation and in subsequent years, for amounts greater than par (or stated) value.