USCPA冲刺阶段，做一些难题有助于发现自己的不足之处。高顿网校USCPA大型考前辅导系列直播，为你冲刺路上加加油！点击进入直播>>
　　1.AUD
　　A primary advantage of using generalized audit packages in the audit of an advanced computer system is that it enables the auditor to
　　A. Gather and store large quantities of supportive evidential matter in machine readable form.
　　B. Substantiate the accuracy of data through self-checking digits and hash totals.
　　C. Verify the performance of machine operations which leave visible evidence of occurrence.
　　D. Utilize the speed and accuracy of the computer.
　　2.BEC
　　Three suppliers offer Gaodun Finance different credit terms. Bandy Co. offers terms of 1.5/15, net 30. Carryl Co. offers terms of 1/10, net 30. Platt Co. offers terms of 2/10, net 60. Gaodun Finance would have to borrow from a bank at an annual rate of 10% to take any cash discounts. Based on a 360-day year, which of the following options would be most attractive for Gaodun Finance?
　　A. Purchase from Platt Co., pay in 60 days, and do not borrow from the bank.
　　B. Purchase from Bandy Co., pay in 15 days, and borrow from the bank.
　　C. Purchase from Carryl Co., pay in 10 days, and borrow from the bank.
　　D. Purchase from Bandy Co., pay in 30 days, and do not borrow from the bank.
　　3.REG
　　The following information pertains to Dahl Corp.:
　　Accumulated earnings and profits at January 1, Year 1 $ 120,000
　　Earnings and profits for the year ended December 31, Year 1 160,000
　　Cash distributions to individual stockholders during Year 1 360,000
　　What is the total amount of distributions taxable as dividend income to Dahl's stockholders in Year 1?
　　a. $360,000
　　b. $0
　　c. $280,000
　　d. $160,000
　　4.FAR
　　Famous, a non-governmental not-for-profit art museum, has elected not to capitalize its donated permanent collections. In Year 1, a bronze statue was stolen. The statue was not recovered and insurance proceeds of $35,000 were paid to Famous in Year 2. This transaction would be reported in:
　　I.The statement of activities as permanently restricted revenues.
　　II.The statement of cash flows as cash flows from investing activities.
　　a.Neither I nor II.
　　b.I only.
　　c.Both I and II.
　　d.II only.
　　Answer:
　　1.D
　　D is corrent because generalized audit packages provide a means of converting machine readable data into auditor readable data with added data manipulation routines including various sort and arithmetic functions. Thus, generalized audit packages utilize the speed and accuracy of the computer.
　　A is incorrect because generalized audit packages convert machine readable data into auditor readable form rather than gather and store data in machine readable form.
　　B is incorrect because audit packages do not substantiate data through self-checking digits and hash totals. While this may be feasible through generalized audit packages, these controls are usually present in only the client software.
　　C is incorrect because the performance of machine operations which leaves visible evidence of occurrence can be checked manually by the auditor. The use of a generalized audit package would not be needed in this situation.
　　2.B
　　B is correct. The most attractive option would be to purchase from Brandy, pay in 15 days, and borrow from the bank. The nominal annual benefit of taking Brandy's terms is equal to 36.5% (1.5%/(100% - 1.5%) × 360 days/(30 days - 15 days)).
　　A is incorrect. The nominal annual cost of not taking Platt's terms is equal to 14.7% (2%/(100% ? 2%)) × (360 days ? (60 days ? 10 days)), which is less than the benefit from taking Brandy's terms.
　　C. The nominal annual cost of not taking Carryl's terms is equal to 18.2% (1%/(100% ? 1%) × 360 days ? (30 days ? 10 days)) which is less than the benefit from taking Brandy's terms.
　　D. The company would benefit from taking Brandy’s discount terms.
　　3.C
　　Choice "c" is correct. Distributions out of the sum of current and accumulated earnings and profits are taxable as dividends to the recipients.
　　Accumulated E&P at 1/1/Year 1 $ 120,000
　　Earnings in Year 1 160,000
　　Taxable dividends to recipients 280,000
　　Excess distributed 80,000 Total distributed $ 360,000
　　Any excess reduces the shareholder's basis in Dahl stock, and any amount beyond that required to reduce the shareholder's basis to zero is treated as received on the sale or exchange of the stock and is capital gain.
　　Choices "b", "d", and "a" are incorrect, per the above calculation and explanation.
　　4.D
　　Choice "D" is correct. Investing activities in the statement of cash flows should include proceeds from the sale of long lived assets or insurance proceeds associated with the loss of long lived assets. Entities that do not capitalize their permanent collections display insurance proceeds from lost, stolen or damaged items on the statement of activities in an appropriate change in net asset classification separate from revenues, expenses, gains, and losses.
　　高顿网校温馨提醒
　　USCPA-美国注册会计师，全球会计*9证，国内人才缺口25万，年薪40W起，如何成为全球财会精英？点击获取USCPA职业发展白皮书！
　　美国注册会计师精彩推荐：        USCPA招生专题
        2015年USCPA考试常见问题解析

展开全文