2015年美国注册会计师《审计与鉴证》冲刺题(8)

　　1.A penalty for understated corporate tax liability can be imposed on a tax preparer who fails to:

　　a. Audit the corporate records.

　　b. Make reasonable inquiries when taxpayer information appears incorrect.

　　c. Examine business operations.

　　d. Copy all underlying documents.

　　答案：B

　　Explanation

　　Choice "b" is correct. A penalty for understated corporate tax liability can be imposed on a tax preparer who fails to make reasonable inquiries when taxpayer information appears incorrect.

　　Choices "a", "c", and "d" are incorrect. A tax return preparer is not required to:

　　? Audit the corporate records

　　? Examine the business operations

　　? Copy all underlying documents

　　2.Which of the following acts by a CPA will not result in a CPA incurring an IRS penalty?

　　a. Understating a client\'s tax liability as a result of an error in calculation.

　　b. Negotiating a client\'s tax refund check when the CPA prepared the tax return.

　　c. Failing, without reasonable cause, to sign a client\'s tax return as preparer.

　　d. Failing, without reasonable cause, to provide the client with a copy of an income tax return.

　　答案：A

　　Explanation

　　Choice "a" is correct. The IRS does not impose a penalty on a CPA for making an error in calculating a tax return.

　　Choice "d" is incorrect. A CPA must give his or her client a copy of the client\'s tax return or face imposition of a penalty.

　　Choice "c" is incorrect. A CPA must sign tax returns that the CPA prepares. Willful violation of this rule can result in imposition of a penalty.

　　Choice "b" is incorrect. A CPA is prohibited from negotiating a client\'s refund check.

　　3.Which of the following statements is correct regarding the difference between the absorption costing and variable costing methods?

　　a. When production equals sales, absorption costing income is less than variable costing income.

　　b. When production is less than sales, absorption costing income is greater than variable costing income.

　　c. When production equals sales, absorption costing income is greater than variable costing income.

　　d. When production is greater than sales, absorption costing income is greater than variable costing income.

　　【答案解析】D

　　Explanation

　　Choice "d" is correct. When production is greater than sales, absorption costing income is greater than variable costing income. Production in excess of sales result in increases in inventory that include capitalization of fixed product costs that are immediately expensed under variable costing. Since costs that are used in the determination of net income for variable costing are accounted for in inventory for absorption costing, absorption costing will produce higher net income than variable costing when production is greater than sales.

　　Choice "c" is incorrect. When production equals sales, there is no change in inventory and absorption costing and variable costing produce identical results.

　　Choice "a" is incorrect. When production equals sales, there is no change in inventory and absorption costing and variable costing produce identical results.

　　Choice "b" is incorrect. When production is less than sales, inventory declines and absorption costing produces earnings less than variable costing because fixed product costs included in inventory in prior years are charged to earnings when inventory declines. These "extra" costs were already recognized in prior periods under variable costing. As a result, absorption costing produces lower net income than variable costing when production is less than sales and inventory declines.

　　4.Breakeven analysis assumes that over the relevant range:

　　a. Total fixed costs are nonlinear

　　b. Total costs are unchanged

　　c. Unit variable costs are unchanged

　　d. Unit revenues are nonlinear

　　【答案解析】C

　　Explanation

　　Choice "c" is correct. Breakeven analysis assumes that all variable costs and revenues are constant on a per unit basis and are linear over a relevant range. Fixed costs in total are constant.

　　Choice "d" is incorrect. Breakeven analysis assumes that all variable costs and revenues are constant on a per unit basis and linear over a relevant range.

　　Choice "b" is incorrect. Total costs do change over a relevant range. Breakeven analysis assumes that all variable costs and revenues are constant per unit and linear within a relevant range.

　　Choice "a" is incorrect. Total fixed costs are assumed to be constant (representing a linear relationship) over a relevant range.