If a share of common stock with a par value of $.01 is issued for $5 the journal entry to record the transaction would be:

According to the Financial Accounting Standards Board (FASB), what are UTPs?

Which of the following is a contra-asset?

A US company invoiced a German company in USD in January and received payment in February. The Euro weakened from January to February. In which section of the financial statements will the US company record the foreign currency gain?

If a company is using the installment method of accounting for a project with a gross profit of 30%, how much revenue will be recorded when the initial $100,000 payment is received?

An employer grants each of its two employees 10 sick days to be used throughout the year or carried into the next year. Both employees are paid $200 per day. If neither employee used any sick days in Year 1, what amount should be accrued as compensated absence liability at the end of the year?

Which of the following is NOT a potential off-balance-sheet liability?

Which of the following activities would be regarded as a financing activity on the Statement of Cash Flows?

Using the financial statements, how is Free Cash Flow calculated?

What are the two basic formats of the Income Statement?

A financial statement is a smaller piece of a much larger annual document submitted to the Securities Exchange Commission. What is the name of the document?