Free AICPA AICPA-CPA Exam Questions

Become AICPA Certified with updated AICPA-CPA exam questions and correct answers

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Total 205 Questions | Updated On: Jul 28, 2025

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Question 1

The price elasticity of demand for widgets is 1.1 and the quantity demanded is 5,000 units. The price increases by 8%. What is the new quantity demanded?

A : 440

B : 4,560

C : 5,440

D : 4,780

Answer: B

Question 2

Emergent Corporation plans to revise its information system. Its design staff is undertaking a system survey. The most likely data- gathering techniques the design staff will use include interviews, questionnaires, observations, and

A : Decryption.

B : Gantt charts.

C : Prototype demonstrations.

D : System documentation review.

Answer: D

Question 3

Which of the following would be considered corroborative evidence?

A : Checks, invoices, and contracts

B : General and subsidiary ledgers

C : Minutes from meetings of the board of directors

D : Worksheets and spreadsheets supporting cost allocations

Answer: C

Question 4

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 5

Drillfast is a drilling corporation with operations at oil rigs around the world. For the 2014 annual report, which business segment should be reported as an operating segment?

A : South American segment, which contributes 8% of total revenues, 5% of profits and accounts for 9% of assets. South American operating manager reports to the chief operating officer.

B : African segment, which contributes 9% of the company’s assets, 16% of total revenues, and 18% of profits. The African operating manager reports to the British operating manager.

C : Australian segment, which contributes 10% of total revenues, 2% of assets, and 4% of profits. The Australian manager reports to the chief operating officer.

D : Texas based corporate headquarters

Answer: C

Page: 1 / 41

Total 205 Questions | Updated On: Jul 28, 2025

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