PROFESSIONAL EXAMINATIONS .
The article presents details of problems presented by the Board of Examiners of the American Institute of Accountants as the first half of the May 1944, examination in accounting practice. The time allowed to solve all problems was four and a half hours. Accountants are supposed to prepare from the following data a statement of net assets of A as at December 1-10, 1943 and changes during the period ended December 10, 1943. A, a sole proprietor, intends to form a partnership with B, Because of A's failure to keep records, however, he cannot furnish to B statements indicative of financial position and earnings to serve as a basis for determining the respective capital interests of the prospective partners and for reaching agreement on other financial matters. Accordingly, it is agreed between A and B that A should continue operating as a sole proprietor for a six-month period ending May 31, 1944 and to keep proper accounting records to serve as a basis for the drafting of a satisfactory partnership agreement.
- DOI
- 10.2308/tar-7037122
- Volume
- 19 (3)
- Pages
- 324-333
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref