Yea thats my issue with it. They should say that common stock was issued for an exchange of land. Not common stock was issued to purchase land.
Again, just another instance of them not providing enough facts due to fear of you getting it right. If a company has a land seller already in place then they need to say the stock was issued in exchange for land. Key statement is that they issued common stock TO purchase land, not they issued stock AND purchased land. Sorry to rant, it's just I view these as if you want the right answer, provide all of the relevant facts that are needed in order to select an answer. This isnt higher order thinking, its BANANA LAND thinking. Spend more time trying to figure out how they want questions answered.
If they issue stock and Banana Joe purchases it on the market, and then they corp uses the proceeds to buy land from Donkey Kong, cash is involved.
.