Assumptions on the CPA exam

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    Topic
  • #180627
    maggie_k
    Member

    I’ve come to expect some trick questions and know what kind of things to look for. But Wiley often asks unclear questions.

    For example, he’ll give you a number for net income before items potentially requiring adjustments, and then some items that may require adjusting, and it’s not clear if those items were included in net income without adjustments, or they weren’t included in net income at all.

    Or he’ll give a balance sheet with AR of 16,000, then ask for adjusting entries and tell you that ending AR was 21,000. And he doesn’t make it clear if the extra 5,000 is from sales that weren’t recorded, or sales that were incorrectly recorded as cash sales, or what.

    My experience shows that, for the above two examples, Wiley has already included the items in net income and they only need possible adjusting entries, and that an addition to AR should be recorded as sales. But Wiley didn’t write the CPA exam.

    Does anyone remember similar unclear questions on the exam? Not tricky questions where the info is there and you need to recognize it, but questions where the info isn’t given and you’re supposed to assume something.

    And if so, what are you expected to assume?

Viewing 8 replies - 1 through 8 (of 8 total)
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  • #448259
    Jennifer241
    Member

    Wiley gets their questions from old CPA exams, so expect that these types of questions will be on your exam. Once you do enough questions in Wiley, you will start to see the assumptions being made and learn to answer those questions with those assumptions.

    AUD - Jan 9,13 Pass
    REG - Aug 30,13 Pass
    BEC - Oct 26,13 Pass
    FAR - Dec 4,13 Pass

    Licensed CPA in the state of Oregon

    #448402
    Jennifer241
    Member

    Wiley gets their questions from old CPA exams, so expect that these types of questions will be on your exam. Once you do enough questions in Wiley, you will start to see the assumptions being made and learn to answer those questions with those assumptions.

    AUD - Jan 9,13 Pass
    REG - Aug 30,13 Pass
    BEC - Oct 26,13 Pass
    FAR - Dec 4,13 Pass

    Licensed CPA in the state of Oregon

    #448261
    acamp
    Participant

    I like that your test bank is a dude–mine was always an “it”

    Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)

    Becker Videos: [AUD - 82]

    California CPA

    #448404
    acamp
    Participant

    I like that your test bank is a dude–mine was always an “it”

    Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)

    Becker Videos: [AUD - 82]

    California CPA

    #448263
    tough_kitty
    Member

    Yep, it was frustrating….but I think most of the questions on the real exam were clear….

    FAR: 81 (May 2013)
    BEC: 81 (July 2013)
    REG: 83 (August 2013)
    AUD: 82 (November 2013)
    California CPA since 1/30/14

    #448406
    tough_kitty
    Member

    Yep, it was frustrating….but I think most of the questions on the real exam were clear….

    FAR: 81 (May 2013)
    BEC: 81 (July 2013)
    REG: 83 (August 2013)
    AUD: 82 (November 2013)
    California CPA since 1/30/14

    #448265
    zombiecpa
    Member

    mcq seemed to be very clear on my FAR exam. But working those unclear questions from wiley text book will definitaly help you with sims. B/c those are pretty unclear.

    FAR 85
    AUD 83
    BEC 76
    REG 90

    #448408
    zombiecpa
    Member

    mcq seemed to be very clear on my FAR exam. But working those unclear questions from wiley text book will definitaly help you with sims. B/c those are pretty unclear.

    FAR 85
    AUD 83
    BEC 76
    REG 90

Viewing 8 replies - 1 through 8 (of 8 total)
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