Which basic accounting principle directs accountants to disclose anticipated losses but not anticipated gains?

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?

In preparing consolidated financial statements, which type of transaction is NOT wholly or partially eliminated?

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?