EXAMINATION IN THEORY OF ACCOUNTS.
Abstract The article presents the theory portion of the Uniform Certified Public Accountants (CPA) examination held on May 18, 1962. The paper includes multiple-choice questions on accounting on the topics of realized income, matching costs and revenues, going concern concept, current assets, cost accounting, and lower of cost or market. One of the questions requires calculation whether the amount to be recorded for the dividend payable should be book value or market value. In one of the questions, the students are required to prepare a report for the president explaining the "quasi-reorganization." The report should include definition and accounting features of the procedure, the purpose of the procedure, under what conditions should it be considered, authorization necessary, and disclosure required in the financial statements. In a question the students are asked to describe the depreciation methods based on treating assets as units, and a group or as having a composite life. Answers to the questions are also provided.
- DOI
- 10.2308/tar-7100522
- Volume
- 37 (4)
- Pages
- 785-794
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref