twitter
spotify
×
Data Alerts
Skip To Main Content
Skip To Footer
warning
facebook
twitter
instagram
linkedin
youtube
search
njcpa logo
Search Site
Menu
×
Data Alerts
JOIN
Login
My Dashboard
My Profile
My Events
My CPE
My Knowledge Hub
My Membership
My Order History
My Communications Preferences
My Award Nominations
Logout
JOIN
HELP
Join & Connect
Connect
Connect - Open Forum
Member Directory
Member and Firm News
Find a CPA
Engage
Interest Groups
Volunteer Opportunities
Scholarship Fund
Showcase Your Expertise
Build Career
Become a CPA
Start Your Journey
Scholarships
Requirements
Forms
CPA Exam
Career Development
Students
Early Career
Managers
Directors
Executives
Accounting Educators
Women in Accounting
Learn
Maintain License
License Renewal
CPE Requirements
Stay Informed
News & Info
New Jersey CPA Magazine
NJCPA Focus Blog
IssuesWatch
Knowledge Hubs
Use Resources
Classifieds
Mergers and Acquisitions
Professional Services
Real Estate
×
Data Alerts
JOIN
Menu
Join & Connect
Join
Why Join?
Membership Benefits
Membership Dues
Membership Application
Membership+
Member-Get-a-Member Program
Connect
Connect - Open Forum
Chapters
Member Directory
Attorney Directory
Premier Partners
Stories of Our Community
Member and Firm News
Find a CPA
Engage
Interest Groups
Volunteer Opportunities
Scholarship Fund
Showcase Your Expertise
Food Drive
NJCPA Store
Build Career
Become a CPA
Start Your Journey
Scholarships
Requirements
Forms
CPA Exam
The CPA Pipeline
JobBank
Search Jobs
Post a Job
Free Resume Critique
Career Development
Students
Early Career
Managers
Directors
Executives
Emerging Leaders
Accounting Educators
Women in Accounting
Learn
Explore Learning
Search Events & On Demand
Learning Pathways
Conferences
Event Bundles and CPE Passes
On-Demand CPE
Nano CPE Programs
Certificate Programs
On-Site Training
CPE Policies
Maintain License
License Renewal
CPE Requirements
Featured Programs
State Taxation, Jan. 16 in Paramus
Nonprofit Discussion Group, Jan. 17
Law School for Finance Executives, Jan. 23 or 31
Membership+ - Free CPE for Members
New Jersey Law & Ethics
Stay Informed
News & Info
Media Center
New Jersey CPA Magazine
NJCPA Focus Blog
IssuesWatch
Knowledge Hubs
Tax
Beneficial Ownership Information Reporting
Accounting & Auditing
The CPA Pipeline
All Knowledge Hubs
Advocacy
Legislative Action Center
NJ-CPA-PAC
Use Resources
Featured Resources
Track your CPE
Save on accountants malpractice insurance from CAMICO
Save on disability insurance from USI Affinity
Find a peer reviewer
Save on CPA Exam prep courses
Join the Federal Taxation Interest Group
Marketplace
Business Services
Financial and Insurance
Guidance and Learning
Practice Management and Development
Retail, Travel and Entertainment
Find a CPA
Classifieds
Mergers and Acquisitions
Professional Services
Real Estate
Place a Classified Ad
Resources by Audience
Resources for Consumers
Home
Build Career
Become a CPA
CPA Exam
Sample CPA Exam Questions
CPA Exam Quiz - Week 1
CPA Exam Quiz - Week 1
Opening text, if any...........
<section data-block="SingleChoice"><h3>A CPA has been requested by a former audit client to reissue the auditor's report for the prior period. Before reissuing the report, the CPA should:</h3><ul><li>Obtain a letter of representation from the former client’s management.</li><li>Make inquiries of the former client's attorney regarding pending litigation. </li><li>Review the former client's records to verify its compliance with debt and loan agreements.</li><li>Consider whether there is substantial doubt about the former client's ability to continue as a going concern. </li></ul></section><section data-block="SingleChoice"><h3>On May 1 of the prior year, Baker purchased equipment with a five-year useful life for a cost of $10,000. Baker adopted the MACRS depreciation system and did not utilize any special depreciation deductions. On March 1 of the current year, Baker sold the equipment. The MACRS depreciation schedule for five-year property is listed below. What amount of depreciation can Baker deduct in the current year?                               </h3><p><h1><span style="font-size: 12px">1st year - 20.00% </span></h1><h1><span style="font-size: 12px">2nd year - 32.00% </span></h1><h1><span style="font-size: 12px">3rd year - 19.20%</span></h1></p><ul><li>$1,600.00</li><li>$533.00</li><li>$2,000.00</li><li>$3,200.00</li></ul></section><section data-block="SingleChoice"><h3>8 Lind Co.'s salaries expense of $10,000 is paid every other Friday for the 10 workdays then ending. Lind's employees do not work on Saturdays and Sundays. The last payroll was paid on June 18. On Wednesday, June 30, the month-end balance in the salaries expense account before accruals was $14,000. What amount should Lind report as salaries expense in its income statement for the month ended June 30?</h3><ul><li>$22,000.00</li><li>$24,000.00</li><li>$20,000.00</li><li>$18,000.00</li></ul></section><section data-block="SingleChoice"><h3>A company wants to detect and analyze attempts to access the network server by outside parties. Which of the following controls would best accomplish this? </h3><ul><li>Using an access control matrix. </li><li>Using validity checks for each login. </li><li>Using multi-factor authentication for users. </li><li>Using the system's log analysis capabilities. </li></ul></section><section data-block="SingleChoice"><h3>The Internal Revenue Code and the Regulations do not impose penalties on tax return preparers for which of the following? </h3><ul><li>Failure to notify a taxpayer about an inadvertent error on a tax return filed 10 years ago.</li><li>Failure to sign a prepared tax return as a tax preparer. </li><li>Failure to provide a copy of a prepared tax return to the taxpayer. </li><li>Failure to retain copies of prepared tax returns or a list of taxpayers for whom such returns were prepared for the last three years. </li></ul></section>
What's Next?
Learn more about the CPA Exam
Take additional weekly CPA Exam quizzes
View more sample CPA Exam questions
Sign up for a CPA Exam review course