2009 Aicpa Newly Released Question - Business Essay

3457 Words Nov 3rd, 2012 14 Pages
2009 AICPA Newly Released Questions – Business

Following are multiple choice questions recently released by the AICPA. These questions were released by the AICPA with letter answers only. Our editorial board is currently working on providing detailed explanations for these questions, so please check back to the Becker Knowledgebase soon for the updated file. Please note that the AICPA generally releases questions that it does NOT intend to use again. These questions and content may or may not be representative of questions you may see on any upcoming exams.

1

2009 AICPA Newly Released Questions – Business

1. CPAA company's target gross margin is 40% of the selling price of a product that costs $89 per unit. The product's
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Explanation Choice "b" is correct.

14

2009 AICPA Newly Released Questions – Business

14. CPAWhich of the following Federal Reserve policies would increase money supply? a. b. c. d. Change the multiplier effect. Increase reserve requirements. Reduce the discount rate. Sell more U.S. Treasury bonds.

Explanation Choice "c" is correct.

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2009 AICPA Newly Released Questions – Business

15. CPAWhich of the following tasks would be included in a document flowchart for processing cash receipts? a. b. c. d. Compare control and remittance totals. Record returns and allowances. Authorize and generate an invoice. Authorize and generate a voucher.

Explanation Choice "a" is correct.

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2009 AICPA Newly Released Questions – Business

16. CPAThe performance audit report of an information technology department indicated that the department lacked a disaster recovery plan. Which of the following steps should management take first to correct this condition? a. b. c. d. Bulletproof the information security architecture. Designate a hot site. Designate a cold site. Prepare a statement of responsibilities for tasks included in a disaster recovery plan.

Explanation Choice "d" is correct.

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2009 AICPA Newly Released Questions – Business

17. CPAThe regression analysis results for ABC Co. is shown as y = 90x + 45. The standard error

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