Exam Details

  • Exam Code
    :CPA-TEST
  • Exam Name
    :Certified Public Accountant Test: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, Regulation
  • Certification
    :AICPA Certifications
  • Vendor
    :AICPA
  • Total Questions
    :1241 Q&As
  • Last Updated
    :Jul 08, 2025

AICPA AICPA Certifications CPA-TEST Questions & Answers

  • Question 841:

    only one source for each item.

    The company considers the decline in value of equity securities classified as available-for-sale to be

    temporary.

    A. Practitioner's report on management's assertion about an entity's compliance with specified requirements.

    B. Auditor's communications on significant deficiencies in internal control.

    C. Audit inquiry letter to legal counsel.

    D. Lawyer's response to audit inquiry letter.

    E. Communication from those charged with governance to the auditor.

    F. Auditor's communication to those charged with governance (other than with respect to significant deficiencies in internal control).

    G. Report on the application of accounting principles.

    H. Auditor's engagement letter.

    I. Letter for underwriters.

    J. Accounts receivable confirmation request.

    K. Request for bank cutoff statement.

    L. Explanatory paragraph of an auditor's report on financial statements.

    M. Partner's engagement review notes.

    N. Management representation letter.

    O. Successor auditor's communication with predecessor auditor.

    P. Predecessor auditor's communication with successor auditor.

  • Question 842:

    only one source for each item.

    During our audit we discovered evidence of the company's failure to safeguard inventory from loss,

    damage, and misappropriation.

    A. Practitioner's report on management's assertion about an entity's compliance with specified requirements.

    B. Auditor's communications on significant deficiencies in internal control.

    C. Audit inquiry letter to legal counsel.

    D. Lawyer's response to audit inquiry letter.

    E. Communication from those charged with governance to the auditor.

    F. Auditor's communication to those charged with governance (other than with respect to significant deficiencies in internal control).

    G. Report on the application of accounting principles.

    H. Auditor's engagement letter.

    I. Letter for underwriters.

    J. Accounts receivable confirmation request.

    K. Request for bank cutoff statement.

    L. Explanatory paragraph of an auditor's report on financial statements.

    M. Partner's engagement review notes.

    N. Management representation letter.

    O. Successor auditor's communication with predecessor auditor.

    P. Predecessor auditor's communication with successor auditor.

  • Question 843:

    Symbol B most likely represents:

    A. Customer orders.

    B. Receiving reports.

    C. Customer checks.

    D. Sales invoices.

  • Question 844:

    Symbol A most likely represents:

    A. Remittance advice file.

    B. Receiving report file.

    C. Accounts receivable master file.

    D. Cash disbursements transaction file.

  • Question 845:

    In evaluating the adequacy of the allowance for doubtful accounts, an auditor most likely reviews the entity's aging of receivables to support management's financial statement assertion of:

    A. Existence.

    B. Valuation and allocation.

    C. Completeness.

    D. Rights and obligations.

  • Question 846:

    An auditor most likely would review an entity's periodic accounting for the numerical sequence of shipping documents and invoices to support management's financial statement assertion of:

    A. Occurrence.

    B. Classification.

    C. Cutoff.

    D. Completeness.

  • Question 847:

    An auditor's purpose in reviewing credit ratings of customers with delinquent accounts receivable most likely is to obtain evidence concerning management's assertions about:

    A. Understandability and classification.

    B. Existence.

    C. Rights and obligations.

    D. Valuation and allocation.

  • Question 848:

    In a well designed internal control, employees in the same department most likely would approve purchase orders, and also:

    A. Reconcile the open invoice file.

    B. Inspect goods upon receipt.

    C. Authorize requisitions of goods.

    D. Negotiate terms with vendors.

  • Question 849:

    The authority to accept incoming goods in receiving should be based on a (an):

    A. Vendor's invoice.

    B. Materials requisition.

    C. Bill of lading.

    D. Approved purchase order.

  • Question 850:

    When the shipping department returns nonconforming goods to a vendor, the purchasing department should send to the accounting department the:

    A. Unpaid voucher.

    B. Debit memo.

    C. Vendor invoice.

    D. Credit memo.

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