2009 Aicpa Newly Released Question - Business
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.
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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 selling price should be: a. b. c. d. $124.60 $142.40 $148.33 $222.50
Explanation Choice "c" is correct.
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2009 AICPA Newly Released Questions – Business
2. CPAWren Co. manufactures and sells two products with selling prices and variable costs as follows: A $18.00 12.00 B $22.00 14.00
Selling price Variable costs
Wren's total annual fixed costs are $38,400. Wren sells four units of A for every unit of B. If operating income last year was $28,800, what was the number of units Wren sold? a. b. c. d. 5,486 6,000 9,600 10,500
Explanation Choice "d" is correct.
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2009 AICPA Newly Released Questions – Business
3. CPAWhich form of business entity has the following attributes? I. Limited liability for all its owners. II. Can permit all its owners to participate in management and control of the entity. III. Absent an agreement to the contrary, is dissolved on the death, withdrawal, or bankruptcy of an owner. a. b. c. d. A limited partnership. A limited liability company. A general partnership. A corporation.
Explanation Choice "b" is correct.
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2009 AICPA Newly Released Questions – Business
4. CPAJoint ventures are most similar to which of the following types of business organizations? a. b. c. d.
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 selling price should be: a. b. c. d. $124.60 $142.40 $148.33 $222.50
Explanation Choice "c" is correct.
2
2009 AICPA Newly Released Questions – Business
2. CPAWren Co. manufactures and sells two products with selling prices and variable costs as follows: A $18.00 12.00 B $22.00 14.00
Selling price Variable costs
Wren's total annual fixed costs are $38,400. Wren sells four units of A for every unit of B. If operating income last year was $28,800, what was the number of units Wren sold? a. b. c. d. 5,486 6,000 9,600 10,500
Explanation Choice "d" is correct.
3
2009 AICPA Newly Released Questions – Business
3. CPAWhich form of business entity has the following attributes? I. Limited liability for all its owners. II. Can permit all its owners to participate in management and control of the entity. III. Absent an agreement to the contrary, is dissolved on the death, withdrawal, or bankruptcy of an owner. a. b. c. d. A limited partnership. A limited liability company. A general partnership. A corporation.
Explanation Choice "b" is correct.
4
2009 AICPA Newly Released Questions – Business
4. CPAJoint ventures are most similar to which of the following types of business organizations? a. b. c. d.