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ACC 307
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ACC 307 Final Exam Part 1 Part 2
Amy works as an auditor for a large major CPA
firm. During the months of September through
November of each year, she is permanently
assigned to the team auditing Garnet Corporation.
As a result, every day she drives from her home
to Garnet and returns home after work. Mileage is
as follows
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ACC 307 Help Bcome Exceptional /
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ACC 307 Final Exam Part 1
1. The 222 deduction for tuition and related
expenses is available 2. A worker may prefer to
be classified as an employee (rather than an
independent contractor) for which of the
following reasons 3. Aaron is a self-employed
practical nurse who works out of his home. He
provides nursing care for disabled persons living
in their residences.
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ACC 307 Final Exam Part 2
1. An employer calculates the amount of
income tax withheld from salary or wages based on
the information an employee provides on the
following form 2. Black Company paid
wages of 180,000, of which 40,000 was qualified
wages for the work opportunity tax credit under
the general rules. Black Companys deduction for
wages for the year is
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ACC 307 Mid Term Exam Part 1
A characteristic of FUTA is that 2. Which of the
following statements best describes the history
of the Federal income tax? 3. Taxes not imposed
by the Federal government include 4. A VAT
(value added tax) 5. Which of the following
transactions will decrease a taxing
jurisdictions ad valorem tax revenue imposed on
real estate?
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ACC 307 Mid Term Exam Part 2
1. In January, Lance sold stock with a cost basis
of 26,000 to his brother, James, for 24,000,
the fair market value of the stock on the date of
sale. Five months later, James sold the same
stock through his broker for 27,000. What is the
tax effect of these transactions? 2. Tommy, an
automobile mechanic employed by an auto
dealership, is considering opening a fast food
franchise.
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