PROFESSIONAL EXAMINATIONS.
This article features problems that were prepared by the board of examiners of the American Institute of Accountants and were presented as the first half of the November, 1951 certified public accountants examination in accounting practice. Questions were presented in three divisions, with unequal time duration alloted for each. The first series relate to federal income tax in the United States. Questions of these series include conditions for income tax exemption, taxability of the interest earned from U.S. savings bonds issued for individuals, categorization of real property owned by a taxpayer, taxability of interest earned from the sale of municipal bonds and possibility of deduction from tax returns for stock owned by a taxpayer. The second question demands the examinee to prepare a balance-sheet and income statement after careful inspection of records of a sole proprietorship firm. Another question demands the examinee to prepare a statement showing the sources and applications of funds from information on financial transactions undertaken by a business concern.
- DOI
- 10.2308/tar-7125476
- Volume
- 27 (1)
- Pages
- 138-145
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref