CPA Regulation (REG) Practice Tests

Practice Tests

Topics

• Business Law - Bankruptcy

  • Distribution of Assets Under Bankruptcy

  • Bankruptcy Relief for Business & Individuals

  • Surety Agreements

• Business Law - General

  • Contract Law

  • Federal Securities Regulations

  • Agency Relationships

• Individual Income Tax - Sources of Taxable Income

  • Flow-Through Income Items

  • Passive Income & Losses

  • Taxable Income Items

• Individual income Tax - Exemptions, Credits, & Deductions

  • Tax Exempt Income Items

  • Individual Adjustments & Deductions

  • Common Tax Credits

• Individual Tax Issues

  • Alternative Minimum Tax

  • Sale of Principal Residence

  • Dependents

  • Selecting a Filing Status

  • Taxable Income

• Taxation of Estates

  • Taxable Estate

  • Distributable Net Income

  • Taxable Income from Trusts & Estates

• Taxation of Gifts

  • Taxable Gifts

  • Basis of Assets Received by Gift or Inheritance

  • Holding Period

• Special Issues in Corporate Taxation

  • Liquidating & Non-Liquidating Distributions

  • Accumulated Earnings Tax

  • Personal Holding Company Tax

• Corporate Income Tax Deductions

  • Dividends Received Deductions

  • Charitable Contribution Deduction

  • Deductible & Non-Deductible Corporate Expenses

• Special Issues in Taxation of Organizations

  • Consolidated Tax Returns

  • Book/Tax Differences

  • Tax Exempt Organizations

• Taxation of Flow-Through Entities

  • Realized & Recognized Gains in Formation/Liquidation

  • Shareholder & Partnership Basis

  • Tax Treatment of Distributions to Partnerships & Shareholders

  • Eligibility Requirements for S Corps

• Taxation of Property Transactions

  • Stock Issuance in Exchange for Property & Services

  • Like Kind Exchanges

  • Involuntary Conversions

  • Cost Recovery (Depreciation, Depletion, & Amortization)