Quickly purchase CPA-Regulation Exam Pdf study guide and go to the top of your life! What you can get from the CPA-Regulation Exam Pdf certification? Of course, you can get a lot of opportunities to enter to the bigger companies. After you get more opportunities, you can make full use of your talents. The client can decide which CPA-Regulation Exam Pdf version to choose according their hobbies and their practical conditions. You will be surprised by the convenient functions of our CPA-Regulation Exam Pdf exam dumps. So our customers can pass the exam with ease.
AICPA Certification CPA-Regulation Finding a good paying job is available for you.
AICPA Certification CPA-Regulation Exam Pdf - Certified Public Accountant CPA Regulation Remember this version support Windows system users only. They will thank you so much. Our company never sets many restrictions to the CPA-Regulation Reliable Test Papers exam question.
Get the test CPA-Regulation Exam Pdf certification is not achieved overnight, we need to invest a lot of time and energy to review, and the review process is less a week or two, more than a month or two, or even half a year, so CPA-Regulation Exam Pdf exam questions are one of the biggest advantage is that it is the most effective tools for saving time for users. Users do not need to spend too much time on CPA-Regulation Exam Pdf questions torrent, only need to use their time pieces for efficient learning, the cost is about 20 to 30 hours, users can easily master the test key and difficulties of questions and answers of CPA-Regulation Exam Pdf prep guide, and in such a short time acquisition of accurate examination skills, better answer out of step, so as to realize high pass the qualification test, has obtained the corresponding qualification certificate.
AICPA CPA-Regulation Exam Pdf - Also, the system will deduct the relevant money.
We all know that CPA-Regulation Exam Pdf learning guide can help us solve learning problems. But if it is too complex, not only can’t we get good results, but also the burden of students' learning process will increase largely. Unlike those complex and esoteric materials, our CPA-Regulation Exam Pdf preparation prep is not only of high quality, but also easy to learn. For our professional experts simplified the content of theCPA-Regulation Exam Pdf exam questions for all our customers to be understood.
In order to remain competitive in the market, our company has been keeping researching and developing of the new CPA-Regulation Exam Pdf exam questions. We are focused on offering the most comprehensive CPA-Regulation Exam Pdf study materials which cover all official tests.
CPA-Regulation PDF DEMO:
QUESTION NO: 1
Elm Corp. is an accrual-basis calendar-year C corporation with 100,000 shares of voting common stock issued and outstanding as of December 28, 1996. On Friday, December 29, 1996, Hall surrendered 2,000 shares of Elm stock to Elm in exchange for $33,000 cash. Hall had no direct or indirect interest in Elm after the stock surrender. Additional information follows:
What amount of income did Hall recognize from the stock surrender?
A. $33,000 dividend.
B. $18,000 capital gain.
C. $17,000 capital gain.
D. $25,000 dividend.
Answer: C
Explanation
Choice "d" is correct. $17,000 capital gain.
Amount realized:
Choices "a" and "b" are incorrect. Dividends are distributions of earnings. These proceeds are from the sale of stock.
Choice "c" is incorrect, per above. Accumulated earnings and profits do not effect the gain calculation, they only affect the taxability of dividends paid to shareholders.
QUESTION NO: 2
Under a $150,000 insurance policy on her deceased father's life, May Green is to receive
$12,000 per year for 15 years. Of the $12,000 received in 1987, the amount subject to income tax is:
A. $12,000
B. $2,000
C. $1,000
D. $0
Answer: B
Explanation
Choice "c" is correct. $2,000.
QUESTION NO: 3
Conner purchased 300 shares of Zinco stock for $30,000 in 1980. On May 23, 1994, Conner sold all the stock to his daughter Alice for $20,000, its then fair market value. Conner realized no other gain or loss during 1994. On July 26, 1994, Alice sold the 300 shares of Zinco for $25,000.
What was Alice's recognized gain or loss on her sale?
A. $5,000 short-term loss.
B. $5,000 long-term gain.
C. $5,000 long-term loss.
D. $0
Answer: D
Explanation
Choice "a" is correct. Alice has a realized gain of $5,000 on the transaction: $25,000 sales price less
$20,000 purchase price. However, she can reduce the gain, but not below zero, by the amount of loss her father could not deduct on the sale to her. Thus, Alice can reduce her gain by up to $10,000, but not below zero. Here, the gain is $5,000, so it is reduced to zero. Conner should have sold the stock in the open market so that he could deduct the entire loss. Alice could then have purchased the stock in the open market.
Choice "b" is incorrect. $5,000 is Alice's realized long-term gain on the sale. However, she can reduce the gain, but not below zero, by the amount of loss her father could not deduct on the sale to her.
Choice "c" is incorrect. Alice has a realized gain of $5,000 on the sale. However, since she is related to
Conner, her holding period includes his holding period. Therefore, her realized gain is long-term. In addition, she can reduce the gain, but not below zero, by the amount of loss her father could not deduct on the sale to her.
Choice "d" is incorrect. Alice can reduce the gain by the amount of loss her father could not deduct on the sale to her. However, she cannot reduce the gain below zero.
QUESTION NO: 4
Tom and Joan Moore, both CPAs, filed a joint 1994 federal income tax return showing $70,000 in taxable income. During 1994, Tom's daughter Laura, age 16, resided with Tom. Laura had no income of her own and was Tom's dependent.
Determine the amount of income or loss, if any that should be included on page one of the Moores'
1994 Form 1040.
Tom's 1994 wages were $53,000. In addition, Tom's employer provided group-term life insurance on
Tom's life in excess of $50,000. The value of such excess coverage was $2,000.
A. $25,000
B. $2,000
C. $0
D. $3,000
E. $50,000
F. $10,000
G. $2,500
H. $1,250
I. $1,000
J. $1,300
K. $900
L. $1,500
M. $75,000
N. $55,000
O. $500
Answer: C
Explanation
"N" is correct. $55,000. The value of employer-provided group term life insurance for which the face amount exceeds $50,000 is taxable income to the insured employee and the $53,000 in wages would both be included on page one, Form 1040.
QUESTION NO: 5
Which of the following statements is the best definition of real property?
A. Real property is only land.
B. Real property is land and intangible property in realized form.
C. Real property is land and everything permanently attached to it.
D. Real property is all tangible property including land.
Answer: C
Explanation
Choice "d" is correct. Real property includes land and all items permanently affixed to the land (e.g., buildings, paving, etc.) Choice "a" is incorrect. Real property includes more than just the land (as per the explanation above); it includes all items permanently affixed to land.
Choice "b" is incorrect. "All" tangible property could include moveable personal property and is therefore, incorrect.
Choice "c" is incorrect. "Intangible property in realized form" is a distracter and a contradiction in terms.
But now, your search is ended as you have got to the right place where you can catch the finest Linux Foundation FOCP exam materials. Our IBM C1000-178 study materials can help you get your certification in the least time with the least efforts. Google ChromeOS-Administrator - Users can evaluate our products by downloading free demo templates prior to formal purchase. We have left some space for you to make notes on the PDF version of the HP HPE0-S60 study materials. SAP C_DBADM_2404 - Believe that there is such a powerful expert help, our users will be able to successfully pass the qualification test to obtain the qualification certificate.
Updated: May 24, 2022