CPA path · FAR
Practice
Answer, check, and read why. Multiple-choice questions by area, group and task, and task-based simulations like the exam's last three testlets; the feedback is a study feature the real exam does not give.
By content area
- Area I
Not started yet.
60 questions4 simulations30 to 40% of the exam - Area II
Not started yet.
60 questions4 simulations30 to 40% of the exam - Area III
Not started yet.
45 questions4 simulations25 to 35% of the exam
Task-based simulations: 12
Half of the FAR score comes from simulations: small case studies with exhibits, where you enter amounts, record journal entries, review documents or find the ASC topic that applies. Each part is one point here.
Corvane Tooling prepares a classified balance sheet at December 31, Year 1 from the trial balance extract shown. The note receivable is due in four equal annual installments, the first on June 30, Year 2. What amount should Corvane report as total current assets?
| Account | Debit (credit) |
|---|---|
| Cash | $40,000 |
| Accounts receivable | $85,000 |
| Allowance for credit losses | ($5,000) |
| Inventory | $120,000 |
| Prepaid insurance (next 12 months) | $9,000 |
| Trading equity securities | $30,000 |
| Land held for a future plant site | $200,000 |
| Cash surrender value of officers' life insurance | $15,000 |
| Note receivable | $40,000 |