Free Practice AICPA AICPA-CPA Exam Questions 2025

Stay ahead with 100% Free Certified Public Accountant (CPA) - Healthcare Accountat AICPA-CPA Dumps Practice Questions

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Total 205 Questions | Updated On: Apr 23, 2025

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Question 1

Brick Co. has considerable excess manufacturing capacity. A special order's cost sheet includes the following applied manufacturing overhead costs: fixed, $18,000; variable, $43,000. The fixed costs include a normal $3,600 allocation for in-house design costs although no in-house design will be done. Instead, the job will require the use of external designers costing $4,500. What is the total amount to be included in the calculation to determine the minimum acceptable price for the special order?

A : $46,600

B : $47,500

C : $61,000

D : $61,900

Answer: B

Question 2

Sales on credit is recorded in which of the following journal ?

A : Purchase journal

B : Sales journal

C : Purchase return journal

D : Sales return journal

Answer: B

Question 3

Which of the following requires filing a gift tax return if the transfer exceeds the available annual gift tax exclusion?

A : Medical expenses paid directly to a physician on behalf of an individual unrelated to the donor.

B : Tuition paid directly to an accredited university on behalf of an individual unrelated to the donor.

C : Payments for college books, supplies, and dormitory fees on behalf of an individual unrelated to the donor.

D : Campaign expenses paid to a political organization.

Answer: C

Question 4

The account that records expenses, gains and losses is

A : Personal account

B : Real account

C : Nominal account

D : None of the above

Answer: C

Question 5

Which of the following requires filing a gift tax return if the transfer exceeds the available annual gift tax exclusion?

A : Medical expenses paid directly to a physician on behalf of an individual unrelated to the donor.

B : Tuition paid directly to an accredited university on behalf of an individual unrelated to the donor.

C : Payments for college books, supplies, and dormitory fees on behalf of an individual unrelated to the donor.

D : Campaign expenses paid to a political organization.

Answer: C

Page: 1 / 41

Total 205 Questions | Updated On: Apr 23, 2025

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