D. $ 500,000 E. $ 520,000 Your Answer 38) The Treasury Stock account A. normally has a debit balance. B. normally has a credit balance. C. Whether Treasury Stock has a debit or credit balance depends on the amount purchased. D. is normally found under Other Assets. E. Two of these statements are correct. Your Answer 39) The rules that govern accounting over most of the world, but not the US are known as A. FASB B. GAAP C. IFRS D. AARP E. AICPA Your Answer 40) $421,236.38 is the Present Value of: A. A $600,000, zero, 5 year, 4% bond B. 5 year annuity with payments of 100,000, 6% interest rate C. the equal payment on a five year $1,496,123.50, no money down 5% interest rate, purchase D. equal cash flows of $100,000 for 10 years, 4% interest rate. E. None of these Your