Question 1

Which statement is incorrect with respect to taxation on the CPA exam?

Accepted Answer

A)  The CPA exam now has only four parts. 
B)  There are no longer case studies on the exam. 
C)  A candidate may not go back after exiting a testlet. 
D)  Simulations include a four-function pop-up calculator. 
E)  None of the above are incorrect. 
A)  The CPA exam now has only four parts. 
B)  There are no longer case studies on the exam. 
C)  A candidate may not go back after exiting a testlet. 
D)  Simulations include a four-function pop-up calculator. 
E)  None of the above are incorrect.

Question 2

What administrative release deals with a proposed transaction rather than a completed transaction?

Accepted Answer

A)  Letter Ruling. 
B)  Technical Advice Memorandum. 
C)  Determination Letter. 
D)  Field Service Advice. 
E)  None of the above. 
A)  Letter Ruling. 
B)  Technical Advice Memorandum. 
C)  Determination Letter. 
D)  Field Service Advice. 
E)  None of the above.

Question 3

The following citation can be a correct citation: Rev.Rul.95-271,I.R.B.No.54,18.

Accepted Answer

A) True 
 B)False

Question 4

Texas is in the jurisdiction of the Eighth Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 5

Subchapter P refers to the "Partners and Partnerships" section of the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 6

What is a Technical Advice Memorandum?

Accepted Answer

The National Office of the IRS releases

Question 7

Which company does not publish citators for tax purposes?

Accepted Answer

A)  McGraw-Hill. 
B)  Commerce Clearing House. 
C)  Research Institute of America. 
D)  Westlaw. 
E)  Shepard's. 
A)  McGraw-Hill. 
B)  Commerce Clearing House. 
C)  Research Institute of America. 
D)  Westlaw. 
E)  Shepard's.

Question 8

Three judges will normally hear each U.S.Tax Court case.

Accepted Answer

A) True 
 B)False

Question 9

A researcher can find tax information on home page sites of:

Accepted Answer

A)  Governmental bodies. 
B)  Tax academics. 
C)  Publishers. 
D)  CPA firms. 
E)  All of the above. 
A)  Governmental bodies. 
B)  Tax academics. 
C)  Publishers. 
D)  CPA firms. 
E)  All of the above.

Question 10

Tax research involves which of the following procedures:

Accepted Answer

A)  Identifying and refining the problem. 
B)  Locating the appropriate tax law sources. 
C)  Assessing the validity of the tax law sources. 
D)  Follow-up. 
E)  All of the above. 
A)  Identifying and refining the problem. 
B)  Locating the appropriate tax law sources. 
C)  Assessing the validity of the tax law sources. 
D)  Follow-up. 
E)  All of the above.

Question 11

Federal tax legislation generally originates in what body?

Accepted Answer

A)  Internal Revenue Service. 
B)  Senate Finance Committee. 
C)  House Ways and Means Committee. 
D)  Senate Floor. 
E)  None of the above. 
A)  Internal Revenue Service. 
B)  Senate Finance Committee. 
C)  House Ways and Means Committee. 
D)  Senate Floor. 
E)  None of the above.

Question 12

The Index to Federal Tax Articles (published by Warren,Gorham,and Lamont)is available in print and electronic formats.

Accepted Answer

A) True 
 B)False

Question 13

Discuss the advantages and disadvantages of the Small Cases Division of the U.S.Tax Court.

Accepted Answer

There is no appeal from the Small Cases

Question 14

The "respondent" refers to the party against whom a suit is brought.

Accepted Answer

A) True 
 B)False

Question 15

Compare Revenue Rulings with Revenue Procedures.

Accepted Answer

Revenue Rulings are official pronounceme

Question 16

Which of the following is not an administrative source of tax law?

Accepted Answer

A)  Reg. § 301.6114-1. 
B)  Section 2(a)(1)(
A) . 
C)  Rev. Rul. 2011-19. 
D)  Notice 90-20. 
E)  Ltr. Rul 201008049. 
A)  Reg. § 301.6114-1. 
B)  Section 2(a)(1)(
A) . 
C)  Rev. Rul. 2011-19. 
D)  Notice 90-20. 
E)  Ltr. Rul 201008049.

Question 17

Explain the tax appeals process from trial courts.

Accepted Answer

Appeals from a District Court or a Tax C

Question 18

Which publisher offers the Standard Federal Tax Reporter?

Accepted Answer

A)  Research Institute of America. 
B)  Commerce Clearing House. 
C)  Prentice-Hall. 
D)  LexisNexis. 
E)  None of the above. 
A)  Research Institute of America. 
B)  Commerce Clearing House. 
C)  Prentice-Hall. 
D)  LexisNexis. 
E)  None of the above.

Question 19

How do treaties fit within tax sources?

Accepted Answer

The U.S signs certain tax treaties (some

Question 20

What is the role of the Joint Conference Committee in the legislative process?

Accepted Answer

When the Senate version of a bill differ

Which statement is incorrect with respect to taxation on the CPA exam?

What administrative release deals with a proposed transaction rather than a completed transaction?

The following citation can be a correct citation: Rev.Rul.95-271,I.R.B.No.54,18.

Texas is in the jurisdiction of the Eighth Circuit Court of Appeals.

Subchapter P refers to the "Partners and Partnerships" section of the Internal Revenue Code.

What is a Technical Advice Memorandum?

Which company does not publish citators for tax purposes?

Three judges will normally hear each U.S.Tax Court case.

A researcher can find tax information on home page sites of:

Tax research involves which of the following procedures:

Federal tax legislation generally originates in what body?

The Index to Federal Tax Articles (published by Warren,Gorham,and Lamont)is available in print and electronic formats.

Discuss the advantages and disadvantages of the Small Cases Division of the U.S.Tax Court.

The "respondent" refers to the party against whom a suit is brought.

Compare Revenue Rulings with Revenue Procedures.

Which of the following is not an administrative source of tax law?

Explain the tax appeals process from trial courts.

Which publisher offers the Standard Federal Tax Reporter?

How do treaties fit within tax sources?

What is the role of the Joint Conference Committee in the legislative process?

An Introduction to Taxation and Understanding the Federal Tax Law

Tax Formula and Tax Determination; an Overview of Property Transactions

Gross Income: Concepts and Inclusions

Gross Income: Exclusions

Deductions and Losses: in General

Deductions and Losses: Certain Business Expenses and Losses

Depreciation, cost Recovery, amortization, and Depletion

Deductions: Employee and Self-Employed-Related Expenses

Deductions and Losses: Certain Itemized Deductions

Investor Losses

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions: Determination of Gain or Loss and Basis Considerations

Property Transactions: Nontaxable Exchanges

Property Transactions: Capital Gains and Losses

Property Transactions: Section 1231 and Recapture Provisions

Accounting Periods and Methods

Deferred Compensation

Corporations and Partnerships

Filters

Exam 2: Working With the Tax Law

Which statement is incorrect with respect to taxation on the CPA exam?

What administrative release deals with a proposed transaction rather than a completed transaction?

The following citation can be a correct citation: Rev.Rul.95-271,I.R.B.No.54,18.

Texas is in the jurisdiction of the Eighth Circuit Court of Appeals.

Subchapter P refers to the "Partners and Partnerships" section of the Internal Revenue Code.

What is a Technical Advice Memorandum?

Which company does not publish citators for tax purposes?

Three judges will normally hear each U.S.Tax Court case.

A researcher can find tax information on home page sites of:

Tax research involves which of the following procedures:

Federal tax legislation generally originates in what body?

The Index to Federal Tax Articles (published by Warren,Gorham,and Lamont)is available in print and electronic formats.

Discuss the advantages and disadvantages of the Small Cases Division of the U.S.Tax Court.

The "respondent" refers to the party against whom a suit is brought.

Compare Revenue Rulings with Revenue Procedures.

Which of the following is not an administrative source of tax law?

Explain the tax appeals process from trial courts.

Which publisher offers the Standard Federal Tax Reporter?

How do treaties fit within tax sources?

What is the role of the Joint Conference Committee in the legislative process?

An Introduction to Taxation and Understanding the Federal Tax Law

Tax Formula and Tax Determination; an Overview of Property Transactions

Gross Income: Concepts and Inclusions

Gross Income: Exclusions

Deductions and Losses: in General

Deductions and Losses: Certain Business Expenses and Losses

Depreciation, cost Recovery, amortization, and Depletion

Deductions: Employee and Self-Employed-Related Expenses

Deductions and Losses: Certain Itemized Deductions

Investor Losses

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions: Determination of Gain or Loss and Basis Considerations

Property Transactions: Nontaxable Exchanges

Property Transactions: Capital Gains and Losses

Property Transactions: Section 1231 and Recapture Provisions

Accounting Periods and Methods

Deferred Compensation

Corporations and Partnerships

Filters