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Free CPA-Regulation CPA Exam Questions - AICPA CPA-Regulation Exam

AICPA CPA-Regulation Exam

CPA Regulation

Total Questions: 69

Based on Official Syllabus Topics of Actual AICPA-Regulation Exam

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Understand the Actual CPA-Regulation Exam Syllabus, Format, and Question Types

Get official information about the syllabus and format of the exam to set an effective study plan. This information helps you to know what type of questions and topics will appear in the AICPA-Regulation exam. Don’t waste your time and concentrate on such learning content which is expected in the actual exam.

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AICPA CPA-Regulation CPA Questions

Q1.

Which one of the following statements is correct with regard to an individual taxpayer who has elected to amortize the premium on a bond that yields taxable interest?

Q2.

Don Wolf became a general partner in Gata Associates on January 1, 1989, with a 5% interest in Gata's profits, losses, and capital. Gata is a distributor of auto parts. Wolf does not materially participate in the partnership business. For the year ended December 31, 1989, Gata had an operating loss of $100,000.

In addition, Gata earned interest of $20,000 on a temporary investment. Gata has kept the principal temporarily invested while awaiting delivery of equipment that is presently on order. The principal will be used to pay for this equipment. Wolf's passive loss for 1989 is:

Q3.

Under a $150,000 insurance policy on her deceased father's life, May Green is to receive $12,000 per year for 15 years. Of the $12,000 received in 1987, the amount subject to income tax is:

Q4.

An individual had the following capital gains and losses for the year:

What will be the net gain (loss) reported by the individual and at what applicable tax rate(s)?

Q5.

Gibson purchased stock with a fair market value of $14,000 from Gibson's adult child for $12,000. The child's cost basis in the stock at the date of sale was $16,000. Gibson sold the same stock to an unrelated party for $18,000. What is Gibson's recognized gain from the sale?

Solutions:
Question: 1 Answer: C
Question: 2 Answer: C
Question: 3 Answer: C
Question: 4 Answer: A
Question: 5 Answer: B

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