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Home > AICPA > AICPA Certifications > CPA-TEST
AICPA CPA-TEST  Exam Questions & Answers
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AICPA CPA-TEST Exam Questions & Answers


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  • Vendor: AICPA

    Exam Code: CPA-TEST

    Exam Name: Certified Public Accountant Test: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, Regulation

    Certification Provider: AICPA

    Total Questions: 1241 Q&A ( View Details)

    Updated on: Jun 10, 2025

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Related Exams

  • CPA-TEST Certified Public Accountant Test: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, Regulation

Related Certifications

  • AICPA Certifications

CPA-TEST Online Practice Questions and Answers

Questions 1

A CPA in public practice is required to comply with the provisions of the Statements on Standards for Attestation Engagements (SSAE) when:

A. Option A

B. Option B

C. Option C

D. Option D

Show Answer

Correct Answer: C

Explanation:

Choice "c" is correct. Statements on Standards for Attestation Engagements provide guidance with respect

to compilation of a financial projection, but they do not address services involving advocating for a client,

such as testifying as an expert witness.

Choices "a", "b", and "d" are incorrect, per above explanation.

Questions 2

Frictional unemployment refers to unemployment resulting from:

A. The skills of workers do not correspond to the skills demanded by employers.

B. The time needed to match qualified job seekers with available jobs.

C. Seasonal decreases in demand for labor.

D. A recession in the economy.

Show Answer

Correct Answer: B

Explanation:

Choice "b" is correct. Frictional unemployment is the unemployment that arises from workers routinely

changing jobs or from workers being temporarily laid off. It results from the time needed to match qualified

job seekers with available jobs.

Choice "a" is incorrect. This is structural unemployment.

Choice "c" is incorrect. This is seasonal unemployment.

Choice "d" is incorrect. This is cyclical unemployment.

Questions 3

All of the following are complementary goods, except:

A. Margarine and butter.

B. Gas and motor oil.

C. Cameras and rolls of film.

D. VCRs and video cassettes.

Show Answer More Questions

Correct Answer: A

Explanation:

Choice "a" is correct. Margarine and butter are substitute goods. If the price of one goes up, demand for

the substitute increases.

Choices "b", "c", and "d" are incorrect. They are complements. Two goods are complements if they are

used together or their demand curves move together (breakfast cereal and milk, e.g., or tennis balls and

tennis racquets). Thus, if the price of one complement goes up, demand for the other good goes down.

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