备考冲刺过程中，题海战术必不可少。从做题中可以收获经验，在正式的考试中就不会犯错。高顿网校USCPA小编整理了一些考生常见易错题，供广大USCPA考生们参考。
1.AUD
In which of the following situations would an auditor ordinarily choose between expressing a qualified opinion or an adverse opinion?
a. Conditions that cause the auditor to have substantial doubt about the entity's ability to continue as a going concern are inadequately disclosed.
b. The auditor is unable to apply necessary procedures concerning an investor's share of an investee's earnings recognized on the equity method.
c. There has been a change in accounting principles that has a material effect on the comparability of the entity's financial statements.
d. The auditor did not observe the entity's physical inventory and is unable to become satisfied about its balance by other auditing procedures.?
2.BEC
Fernwell wants to buy shares of Gurst Company in two years. Fernwell uses a constant growth dividend discount model with a presumed dividend growth rate of 5%. If Fernwell’s discount rate is 10% and Gurst’s current year dividend is $20, what is the approximate price Fernwell will pay?
a. $400
b. $420
c. $441
d. $463
3.REG
Jackson Corp., a calendar year corporation, mailed its Year 1 tax return to the Internal Revenue Service by certified mail on Friday, March 11, Year 2. The return, postmarked March 11, Year 2, was delivered to the Internal Revenue Service on March 18, Year 2. The statute of limitations (for assessments) on Jackson's corporate tax return begins on:
a.December 31, Year 1.
b.March 16, Year 2.
c.March 18, Year 2.
d.March 11, Year 2.
4.FAR
Altruistic University, a not-for-profit research university, conducts cancer research as part of its normal ongoing activities and regularly receives contributions to support these efforts. Experimental Pharmaceuticals Corporation, a large for profit corporation that markets drugs for cancer treatment, provides resources to Altruistic University to perform clinical trial research on an experimental drug to treat cancer. Resources are provided on the condition that Altruistic University comply with strict specifications governing the manner in which the research is conducted and the frequency and the character of outcome reports. Altruistic University should account for the resources provided by Experimental Pharmaceuticals as:
a.A contribution that increases temporarily restricted net assets and is reclassified as an increase to unrestricted net assets upon satisfaction of research and reporting restrictions.
b.A contribution that increases permanently restricted net assets.
c.An exchange transaction that increases unrestricted net assets.
d.A contribution that increases unrestricted net assets provided the restrictions are met in the current year and the university uniformly applies this method of recognition to all similar transactions.
Answer:
1.A
Choice "a" is correct. Inadequate disclosure of the substantial doubt about an entity's ability to continue as a going concern is a departure from GAAP, resulting in either a qualified or adverse opinion.
Choices "d" and "b" are incorrect. Scope limitations result in either a qualified opinion or in a disclaimer of opinion, but not in an adverse opinion.
Choice "c" is incorrect. A change in accounting principle results in the use of an emphasis-of-matter paragraph following the opinion paragraph in an unmodified report, as long as the change was accounted for properly.
2.D
Choice “d” is correct. Fernwell will pay approximately $463, computed as follows:
Pt=D(t+1)/(R-g)
D(t+1)=$20*(1.05)^2
D(t+1)=$22.05
Pt=($22.05*1.05)/(0.10-0.05)=$463
3.B
Choice "B" is correct. The Year 1 return of a calendar year corporation is due on March 15, Year 2, so the statute of limitations begins on the next day, March 16, Year 2.Rule: The statute of limitations for assessments runs from the date of the filing of the return, or, if later, the due date of the return. Choices "a", "d", and "c" are incorrect, per the above rule.
4.C
Choice "C" is correct. This is an exchange transaction, which increases unrestricted net assets. The results of the clinical trials performed by Altruistic University have a commercial value to Experimental Pharmaceuticals Corporation. Resources have been provided in exchange for research results and do not constitute a contribution.
Choice "b" is incorrect. The transaction represents a reciprocal transfer, or exchange, not a contribution.
Choice "a" is incorrect. The transaction represents a reciprocal transfer, or exchange, not a contribution.
Choice "d" is incorrect per the above explanation.
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