2015年USCPA考試只剩下最后一個(gè)半月的考試時(shí)間，各位考生們復(fù)習(xí)的如何？高頓網(wǎng)校USCPA小編整理了一些考生常見(jiàn)易錯(cuò)題，供廣大考生們參考學(xué)習(xí)。
　　1.AUD
　　When engaged to audit a not-for-profit organization in accordance with Government Auditing Standards, an auditor is required to prepare a written report on compliance with laws and regulations that includes
　　A. An explanation of the inherent limitations of internal control.
　　B. All material and immaterial instances of noncompliance with laws and regulations.
　　C. All instances or indications of illegal acts that could result in criminal prosecution.
　　D. A description of all material weaknesses noted during the engagement.
　　2.BEC
　　A firm develops an annual cash budget in order to:
　　a.Avoid the opportunity costs of noninvested excess cash and minimize the cost of interim financing.
　　b.Balance the noncash and cash activities of the company.
　　c.Ascertain which capital expenditure projects are feasible and which capital expenditure projects should be deferred.
　　d.Support the preparation of its cash flow statement for the annual report.
　　3.REG
　　Which of the following is not an adjustment or preference to arrive at alternative minimum taxable income?
　　a.Deductible medical expenses.
　　b.Deductible contributions to individual retirement accounts.
　　c.Passive activity losses.
　　d.Individual taxpayer net operating losses.
　　4.FAR
　　North, Inc. uses the equity method of accounting for its 50% investment in Mill Corp.’s common stock. During year 3 , Mill reported earnings of $600,000 and paid dividends of $200,000. Assume that: (1) all undistributed earnings of Mill will be distributed as dividends in future periods, (2) the dividends received from Mill are eligible for the 80% dividends received deduction, and (3) North’s income tax rate is 30%. The change in the amount of deferred income tax to be reported by North for year 3  is
　　A. $0
　　B. $60,000
　　C. $24,000
　　D. $12,000
　　Answer:
　　1.C
　　C is corrent because the professional standards require that the report on compliance with laws and regulations include all material instances of noncompliance, and all instances or indications of illegal acts which could result in criminal prosecution.
　　A is incorrect because an explanation of inherent limitations is included in the report on internal control, not in the compliance report.
　　B is incorrect because immaterial instances of noncriminal acts need not be included in a report on compliance with laws and regulations.
　　D is incorrect because material weaknesses are included in the report on internal control, not in the compliance report.
　　2.A
　　Choice "A" is correct. The main reason for preparing a cash budget is to anticipate cash flows so that excess cash can be invested and to minimize the need for interim financing.Choices "d" and "b" are incorrect. A budget would not be used to support the statement of cash flows or balance noncash and cash activities of the company (which are based on actual uses of cash, not budgeted).Choice "c" is incorrect. Capital projects often require the use of various types of financing. The annual cash budget, while it considers these issues in determining the amount of external financing to obtain, is not specifically developed to ascertain which capital expenditure projects are feasible, etc. The capital expenditure budget must be done before the cash budget can be prepared.
　　3.B
　　Choice "B" is correct. Deductible contributions to individual retirement accounts are not an adjustment or preference in calculating a taxpayer's alternative minimum taxable income. They are an adjustment in calculating adjusted gross income for regular (not alternative minimum) tax purposes.
　　Choices "d", "c", and "a" are incorrect. Adjustments to arrive at AMTI include individual net operating losses, passive activity losses, and medical expenses (to the extent they do not exceed 10% of AGI).
　　4.D
　　D is corrent. Under the equity method, North included revenue of $300,000 ($600,000 x 50%) in its book income. The dividends received of $100,000 ($200,000 x 50%) were reported as a reduction of the investment in Mill Corp. account. Taxable income, however, included the dividends but excluded the undistributed earnings. The total difference between book and taxable income is, therefore, $200,000. This entire amount will eventually be included in taxable income when distributed as dividends. Then, however, there would be an 80% DRD (permanent difference) of $160,000 ($200,000 x 80%). The remaining $40,000 is a temporary difference which should be reflected as a $12,000 increase in the deferred tax liability account ($40,000 x 30%).