The initial issuance of common stock (IPO) reflects the sale of the first stock by a corporation.

Common stock issued at par value for cash creates an additional paid-in capital account for the excess of the issue price over the par value.

Stock issued in exchange for property or services is recorded at the fair market value of the stock or the asset or services received, whichever is more clearly determinable.

Stock with a stated value is treated as if the stated value is a par value.

The entire issue price of no-par stock with no stated value is credited to the capital stock account.

True / False