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Instant Download AICPA : REG Questions & Answers as PDF & Test Engine
- Exam Code: REG
- Exam Name: CPA Regulation
- Updated: Sep 14, 2026
- No. of Questions: 70 Questions and Answers
- Download Limit: Unlimited
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AICPA REG Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Ethics, Professional Responsibilities and Federal Tax Procedures | 10-20% | - Ethics and responsibilities in tax practice (Treasury Department Circular 230) - Licensing and disciplinary systems for CPA practice - Federal tax procedures, disclosures, penalties, and appeals |
| Business Law | 15-25% | - Business structures and federal business regulations - Agency, contracts, and debtor-creditor relationships - Legal duties and responsibilities in business transactions |
| Federal Taxation of Individuals | 22-32% | - Tax filing requirements and procedures - Individual taxable income and tax compliance - Adjustments, deductions, exemptions and credits |
| Federal Taxation of Property Transactions | 5-15% | - Basis, cost recovery (depreciation and amortization) - Gains and losses on disposition of assets |
| Federal Taxation of Entities | 23-33% | - Tax compliance for corporations, partnerships, LLCs, and S corporations - Entity-level tax planning and reporting requirements |
AICPA CPA Regulation Sample Questions:
Which of the following is subject to the Uniform Capitalization Rules of Code Sec. 263A?
- A. Warehousing costs incurred by a manufacturing company with $12 million in annual gross receipts.
- B. Editorial costs incurred by a freelance writer.
- C. Mine development and exploration costs.
- D. Research and experimental expenditures.
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Tom and Joan Moore, both CPAs, filed a joint 1994 federal income tax return showing $70,000 in taxable
income. During 1994, Tom's daughter Laura, age 16, resided with Tom. Laura had no income of her own
and was Tom's dependent.
Determine the amount of income or loss, if any that should be included on page one of the Moores' 1994
Form 1040.
The Moores received a stock dividend in 1994 from Ace Corp. They had the option to receive either cash
or Ace stock with a fair market value of $900 as of the date of distribution. The par value of the stock was
$ 500.
- A. $75,000
- B. $25,000
- C. $900
- D. $3,000
- E. $1,000
- F. $1,250
- G. $2,500
- H. $500
- I. $1,300
- J. $2,000
- K. $55,000
- L. $10,000
- M. $0
- N. $50,000
- O. $1,500
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Under the uniform capitalization rules applicable to property acquired for resale, which of the following
costs should be capitalized with respect to inventory if no exceptions are met?
- A. Option D
- B. Option B
- C. Option C
- D. Option A
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Conner purchased 300 shares of Zinco stock for $30,000 in 1980. On May 23, 1994, Conner sold all the
stock to his daughter Alice for $20,000, its then fair market value. Conner realized no other gain or loss
during 1994. On July 26, 1994, Alice sold the 300 shares of Zinco for $25,000.
What amount of the loss from the sale of Zinco stock can Conner deduct in 1994?
- A. $3,000
- B. $5,000
- C. $10,000
- D. $0
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During 2001, Adler had the following cash receipts:
What is the total amount that must be included in gross income on Adler's 2001 income tax return?
- A. $18,400
- B. $19,500
- C. $18,000
- D. $19,900
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