What are the CPA Exam Blueprints?
The CPA Exam Blueprints cover the content eligible for testing in each Exam section. The Blueprints are published one to two times per year. They detail the minimum level of knowledge and skills you must have to qualify for initial licensure. Within the Blueprints, you will find the following information for each Exam section:• Content organized by Area, Group and Topic along with score weighting
• Sample task statements that represent what you may be asked to do when testing
• Skill levels at which tasks are tested
• Reference materials that support the sample task statements
• Number of item types you must complete (multiple-choice questions, task-based simulations and written communication tasks)
• Score weighting of each item type
Jenny's Bakery recently delivered a bad batch of cakes to a local restaurant. Jenny quickly refunded the cost of the cakes to the restaurant. Her accountant made a _____ to her Refunds of Sales account for this transaction:
(A)note (B)debit (C)credit (D)cost adjustment (E)deposit
Correct Answer: B
One purpose of GAAP is to provide _____ between accounting periods.
(A)Relativity
(B)Compression
(C)Contention
(D)Collaboration
(E)Comparability
Correct Answer: E
On July 1, Year 5, Eagle Corp. issued 600 of its 10%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, Year 5 and mature on April 1, Year 15. Interest is payable semiannually on April 1 and October 1. What amount did Eagle receive from the bond issuance?
(A)$579,000 (B)$594,000 (C)$600,000 (D)$609,000
Correct Answer: D
More CPA Exam Questions
- 1Cartman's Cats had a total of 100,000 shares of common stock issued. In February, they reacquired 20,000 shares and did not retire them. How many shares of outstanding stock do they currently have? Mark one answer:
- 2Which of the following is subtracted from net sales to determine gross profit?
- 3Common stock has a _____ balance and is a/an _____ to the Corporation.
- 4What are the number of shares Jet should use to calculate Year 1 earnings per share?
- 5When can I take the CPA Exam