McGraw-Hill Education 500 Financial Accounting and Reporting Questions for the CPA Exam

McGraw-Hill Education 500 Financial Accounting and Reporting Questions for the CPA Exam


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We want you to succeed on the financial accounting and reporting portion of the CPA Exam. That's why we've selected these 500 questions to help you study more effectively, use your preparation time wisely, and get your best score. These questions are similar to the ones you’ll find on the CPA Exam so you will know what to expect on test day. Each question includes a concise, easy-to-follow explanation in the answer key for your full understanding of the concepts. Whether you have been studying all year or are doing a last-minute review, McGraw-Hill: 500 Financial Accounting and Reporting Questions for the CPA Exam will help you achieve the high score you desire.

Sharpen your subject knowledge, strengthen your thinking skills, and build your test-taking confidence with:

  • 500 CPA Exam-style questions
  • Full explanations for each question in the answer key
  • A format parallel to that of the CPA Exam

Product Details

ISBN-13: 9780071807074
Publisher: McGraw-Hill Professional Publishing
Publication date: 10/29/2014
Pages: 256
Sales rank: 247,977
Product dimensions: 5.90(w) x 8.90(h) x 0.60(d)

About the Author

Frimette Kass-Shraibman, PhD, CPA, is a Professor of Accountancy at Brooklyn College and the Editor-in Chief of Journal of the CPA Practitioner. Vijay Sampath, DPS, MBA, CPA is Assistant Professor at the John Jay College of Criminal Justice at the City University of New York.Denise M. Stefano, CPA, CGMA, MBA is Assistant Professor of Accounting and Accounting Department Chairperson at Mercy College.Darrel Surett, CPA, taught accounting and business courses for 25 years at Union County College. He is a partner in the CPA firm of Barry Surett & Co.

Table of Contents

Introduction vii

Chapter 1 Accounting Theory and Conceptual Understanding 1

Questions 1-40

Chapter 2 Revenue and Expense Recognition 13

Questions 41-89

Chapter 3 Marketable Securities 27

Questions 90-104

Chapter 4 Stockholders' Equity 33

Questions 105-140

Chapter 5 Fixed Assets 43

Questions 141-174

Chapter 6 Earnings per Share 53

Questions 175-193

Chapter 7 Accounting for Income Taxes 59

Questions 194-214

Chapter 8 Accounting for Leases and Pensions 67

Questions 215-247

Chapter 9 Partnerships, Sole Proprietorships, and Fair Value Accounting 77

Questions 248-272

Chapter 10 Current Liabilities and Contingencies 85

Questions 273-302

Chapter 11 Financial Instruments, Foreign Currency, Price Level Accounting, and Nonmonetary Exchanges 95

Questions 303-330

Chapter 12 Bonds and Troubled Debt Restructuring 103

Questions 331-355

Chapter 13 Working Capital Components 111

Questions 356-389

Chapter 14 Accounting for Business Combinations 121

Questions 390-414

Chapter 15 Statement of Cash Flows 129

Questions 415-441

Chapter 16 Inventory Valuation Methods 137

Questions 442-467

Chapter 17 Fund Accounting and Government-Wide Financial Statements 145

Questions 468-492

Chapter 18 Not-for-Profit Entities 153

Questions 493-500

Bonus Questions 501-510

Answers 159

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