Which one of the following is the authoritative body having the primary responsibility for developing accounting principles in the United States?
A) FASB
B) IRS
C) SEC
D) AICPA
A
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There are numerous types of value analyses that a salesperson can develop for a prospect. One type that is frequently used is the:
A. product cost versus true value. B. retail cost versus wholesale cost. C. net profit. D. selling cost versus selling price. E. average markup.
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Indicate whether the statement is true or false
A firm issued 10,000 shares of no par-value common stock, receiving proceeds of $40 per share. The amount recorded is ________
A) $0 in the Common Stock account B) $0 in the Paid-in Capital in Excess of Par account C) $400,000 in the Common Stock account D) $400,000 in the Paid-in Capital in Excess of Par account