CPA Accountant Review Questions

A Certified Public Accountant (CPA) is a professional designation for accountants in the United States. CPAs are typically employed in roles that require financial expertise and knowledge, such as Financial Analyst, Finance Manager, and Finance Controller. However, a CPA is unlikely to be employed as a Receptionist, as this position does not require the same level of financial expertise and qualifications. Therefore, the correct answer is Receptionist.

GAAP stands for Generally Accepted Accounting Principles. These are a set of standard guidelines and procedures that companies use to prepare and present their financial statements. GAAP ensures that financial information is consistent, reliable, and comparable across different organizations. It provides a framework for financial reporting, including rules for recording and reporting transactions, as well as guidelines for disclosure and presentation of financial statements. By following GAAP, companies can provide accurate and transparent financial information to investors, creditors, and other stakeholders.

China does not practice the CPA license system. The CPA license system is a professional accounting qualification that is recognized internationally. While countries like the United Kingdom, United States, and Australia have their own versions of the CPA license system, China does not have a similar system in place. This means that individuals in China may not be required to obtain a CPA license to practice accounting professionally.

CPAs (Certified Public Accountants) are professionals who specialize in accounting and financial matters. They are trained and qualified to perform tasks related to financial analysis, financial accounting, and estate planning. However, marketing is not a field that falls within the expertise of CPAs. Marketing involves activities such as advertising, promotion, and market research, which are outside the scope of a CPA's role. Therefore, CPAs cannot perform marketing tasks.

The Certified Public Accountant (CPA) certification was founded in the United States. This certification is granted by the American Institute of Certified Public Accountants (AICPA), which is the national professional organization for CPAs in the United States. The AICPA was established in 1887 and has played a significant role in setting the standards and regulations for the accounting profession in the country.

The correct answer is "American Institute of Certified Public Accountant." AICPA is a professional organization for certified public accountants in the United States. They provide guidance, support, and resources to accountants and promote ethical practices in the accounting profession.

The CPA designation was firstly established in New York.

The CPA was established in 1896.

The correct answer is AICPA. AICPA stands for the American Institute of Certified Public Accountants, which is the organization responsible for setting and administering the Uniform CPA (Certified Public Accountant) exams. These exams are a requirement for individuals who wish to become licensed CPAs in the United States. The AICPA ensures that the exams are standardized and reflect the necessary knowledge and skills required for the profession.

In 2012, Illinois state planned to suit the CPA licenses.