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Certified Public Accountant (CPA) Test

Topics Covered

  • Regulation
  • Financial Accounting & Reporting
  •  Business Environment & Concepts
  •  Auditing & Attestation

Useful for hiring

  • Certified Public Accountant (CPA)
  • Financial Analyst
  • Controller
  • Finance Manager

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Question

You are part of a corporation that has chosen to become a Subchapter S corporation. In such a situation what would occur to the income and loss of the corporation?

1: Income is distributed to the shareholders
2: The income tax return of shareholders would have the corporate loss flowing through them

Answer
    • Only 1

    • Only 2

    • Both 1 and 2

    • Neither 1 nor 2

Question

Your corporation is about to be voluntarily dissolved. The board of directors has passed the necessary resolution to liquidate the corporation. Which of the following is NOT done after this for the corporation to be considered dissolved?

Answer
    • Amending the certificate of incorporation

    • Filing of certificate of dissolution

    • Publishing of a notice of dissolution

    • All of the mentioned are done

Question

You are a CPA performing the Risk Assessment for an Organization. It is given that the risk assessment is done contains a measure of operating effectiveness of controls. In the given context, which of these approaches are you likely to have adopted for the risk assessment?

Answer
    • Substantive approach

    • Combined approach

    • Integrated approach

    • Cohesive approach

Test details:

The Certified Public Accountant (CPA) test enables employers and recruiters to identify potential prospects by evaluating working skills and job readiness. For this reason, the emphasis is laid upon evaluating the knowledge of applied skills gained through real work experience, rather than theoretical knowledge.
 
The CPA online test may contain MCQs (Multiple Choice Questions), MAQs (Multiple Answer Questions), Fill in the Blank, Descriptive, Whiteboard Questions, Audio / Video Questions, True or False.
 
Test Duration: 20 minutes

10 Application Questions

Test description:

Certified Public Accountant (CPA) is mainly a designation that is given by the American Institute of Certified Public Accountants to those who attempt for the exam and further pass the exam to meet work experience requirements. The CPA designation mostly provides assurance to the public, the government departments, and the business community that CPA licensees have obtained the education and relevant work experience necessary to perform specialized accounting, auditing, and reporting services within a strict code of professional ethics. 

Our Certified Public Accountant (CPA) test is created & validated by experienced subject matter experts (SMEs) to assess Certified Public Accountant skills of candidates as per industry standards. CPA online test helps recruiters and hiring managers to evaluate the expertise of candidates in the field of financial audit services, financial analysis & planning, tax accounting, financial reporting, etc.

The Certified Public Accounting test (CPA) helps to screen the candidates who possess traits as follows:

  • Understanding of federal and state tax laws
  • Knowledge of preparation and presentation of financial and tax reports
  • Must consult with clients about financial planning and tax preparation services and needs
  • Experience in reviewing of accounting procedures and making suggestions for improvements to budgets, costs and other areas
  • Knowledge of how to apply the computer skills to work with relevant accounting software, such as Quickbooks


Our Certified Public Accountant (CPA) assessment test reports will give a detailed analysis of each candidate and will provide the analytical data which helps you to hire better and faster. To know about the candidate experience, we have introduced the new feature called candidate feedback module in our Certified Public Accountant (CPA) skills test while attempting the test.

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