Tennessee CPA Journal Self-Study Exam

Tennessee CPA Journal Self-Study CPE Exam

Sponsored by the Educational & Memorial Foundation of the Tennessee Society of CPAs
Recommended CPE Credit: 1 hour

Issue Date: May 2008
Exam valid through December 1, 2008.
Must be postmarked on or
before December 1, 2008.

If you are not a member of TSCPA, please send a check for $20 payable to the Educational & Memorial Foundation of TSCPA.

If you have not taken this exam before or have questions, please read the Instructions.

This form will be sent to TSCPA electronically and you will receive your graded exam via e-mail. Please click here if you intend to mail or fax the exam to TSCPA. Click here for help.

	True	False
From “A New Approach to Work-Life Balance”
1. According to the Gallup organization, nearly 20 percent of workers are disengaged or actively disengaged in their jobs.
2. One of the most effective ways to foster a sense of happiness, satisfaction and committment is through increased “flow.” These people tend to be more productive and more satisfied.
From "Electronic Audit Confirmations"
3. Saving time, reducing fraud exposure and improving consistency and accuracy are some of the key elements of the electronic confirmation solution.
From "Evaluating and Communicating Internal Control Deficiencies"
4. According to the article, the most common internal control shortcoming in small business is that duties are too segregated.
From “New Tax Return Preparer Penalties Part II - Advisors”
5. Whether to a taxpayer or to another preparer, even if the advice is oral, the disclosure statement must still be written.
6. The amount of penalty is the greater of $10,000 per return of the income derived by the preparer with respect to the return.
7. Engagement letters that obligate the taxpayer to reimburse the firm for penalties will pose a significant problem.

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I certify that I have read the April 2008 Tennessee CPA Journal, from which these questions were taken.

Instructions

Members may earn free CPE by reading the Tennessee CPA Journal. To be eligible for continuing professional education credit, you should spend approximately one to two hours reading the material in the current issue of the Tennessee CPA Journal. Then answer the following questions by darkening the circle which represents the best answer. Certify that you have completed the reading requirement for this exam by signing below. You must answer five of the seven questions correctly to receive credit. You should receive a copy of your graded test within four weeks of the date of submission. If you have not received a response within this time, please call TSCPA at 615/377-3825 or toll-free 1-800/762-0272. This program has been approved by the Tennessee State Board of Accountancy. This exam qualifies for credit under the reporting sub-category “Other - Code 10. ” CPAs licensed to practice in Tennessee may earn up to 20 percent of their total CPE requirements through this type of examination.