How should a customer overpayment be classified in the financial statements?

According to SOX, an audit committee must have AT LEAST how many members?

What does a company's Days Sales Outstanding (DSO) reveal?

True or false? Freight-out is classified as an operating expense.

Which of the following journals entries correctly records the disposal of a fully depreciated piece of machinery from which no proceeds were received?

A company lost a building with a book value of $65,000 and fair value of $80,000 to a flood. $20,000 was paid for removal and clean-up. What is the loss on this involuntary conversion?

True or false? A declared dividend decreases shareholders’ equity.

Which of the following does NOT increase cash flows?

Two figures must be transferred to the balance sheet before the final result can be calculated. What are they, and where are they transferred from?

Which entity is primarily responsible for setting accounting standards?

Why would a creditor heavily scrutinize a company's statement of retained earnings?