The CPA-Regulation Training Topics latest dumps will be a shortcut for a lot of people who desire to be the social elite. If you try your best to prepare for the CPA-Regulation Training Topics exam and get the related certification in a short time, it will be easier for you to receive the attention from many leaders of the big company, and it also will be very easy for many people to get a decent job in the labor market by the CPA-Regulation Training Topics learning guide. With the rapid development of the world economy, it has been universally accepted that a growing number of people have longed to become the social elite. Our CPA-Regulation Training Topics exam question can help you learn effectively and ultimately obtain the authority certification of AICPA, which will fully prove your ability and let you stand out in the labor market. We have the confidence and ability to make you finally have rich rewards. We can promise that our company will provide the demo of the CPA-Regulation Training Topics learn prep for all people to help them make the better choice.
AICPA Certification CPA-Regulation Our company is professional brand.
Our company always feedbacks our candidates with highly-qualified CPA-Regulation - Certified Public Accountant CPA Regulation Training Topics study guide and technical excellence and continuously developing the most professional CPA-Regulation - Certified Public Accountant CPA Regulation Training Topics exam materials. As the saying goes, verbal statements are no guarantee. So we are willing to let you know the advantages of our CPA-Regulation Latest Exam Voucher study braindumps.
With over a decade’s endeavor, our CPA-Regulation Training Topics practice guide successfully become the most reliable products in the industry. There is a great deal of advantages of our CPA-Regulation Training Topics exam questions you can spare some time to get to know. As we know, everyone has opportunities to achieve their own value and life dream.
AICPA CPA-Regulation Training Topics - And we have become a popular brand in this field.
According to various predispositions of exam candidates, we made three versions of our CPA-Regulation Training Topics study materials for your reference: the PDF, Software and APP online. And the content of them is the same though the displays are different. Untenable materials may waste your time and energy during preparation process. But our CPA-Regulation Training Topics practice braindumps are the leader in the market for ten years. As long as you try our CPA-Regulation Training Topics exam questions, we believe you will fall in love with it.
For many people, it’s no panic passing the CPA-Regulation Training Topics exam in a short time. Luckily enough，as a professional company in the field of CPA-Regulation Training Topics practice questions ,our products will revolutionize the issue.
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.
And we have been treated as the best friend as our Microsoft DP-203-KR training guide can really help and change the condition which our loyal customers are in and give them a better future. With our Microsoft MB-230 learning questions, you can enjoy a lot of advantages over the other exam providers’. If you really want to pass the ISACA CISM exam, you should choose our first-class ISACA CISM study materials. UiPath UiPath-ABAv1 - Join us and you will be one of them. Cisco 300-430 - You also can refer to other candidates’ review guidance, which might give you some help.
Updated: May 24, 2022