各位小伙伴大家好，美国CPA考试共有三种题型：选择题，案例分析题和写作题，不同科目题型分配不同，为了帮助大家更好地备考，帮考网带来了练习题供大家练习，帮助大家熟悉题型和积累答题经验，具体内容如下：

1.Capital assets include:

a. A corporation\\\'s accounts receivable from the sale of its inventory.

b. A corporate real estate developer\\\'s unimproved lａｎｄ　that is to be subdivided to build homes, which will be sold to customers.

c. A manufacturing company\\\'s investment in U.S. Treasury bonds.

d. Seven-year MACRS property used in a corporation\\\'s trade ｏｒbusiness.

答案：C

Explanation

Choice "c" is correct. Investment assets of a taxpayer that are not inventory are capital assets. The manufacturing company would have capital assets including an investment in U.S. Treasury bonds.

Choice "a" is incorrect. Accounts receivable generated from the sale of inventory are excluded from the statutory definition of capital assets.

Choice "d" is incorrect. Depreciable property used in a trade ｏｒbusiness is excluded from the statutory definition of capital assets.

Choice "b" is incorrect. Lａｎｄ　is usually a capital asset, but when it is effectively inventory, as when it is used by a developer to be subdivided, it is excluded from the statutory definition of capital assets.

2.If the executｏｒof a decedent\\\'s estate elects the alternate valuation date ａｎｄ　none of the property included in the gross estate has been sold ｏｒdistributed, the estate assets must be valued as of how many months after the decedent\\\'s death?

a. 6

b. 9

c. 3

d. 12

答案：A

Explanation

Choice "a" is correct.

Rule: The executｏｒcan elect to use an alternate valuation date rather than the decedent\\\'s date of death to value the property included in the gross estate. The alternate date is generally six months after the decedent\\\'s death ｏｒthe earlier date of sale ｏｒdistribution.

Note: The valuation of the assets in an estate impacts the recipient as basis of the inherited assets.

Choices "d", "b", ａｎｄ　"c" are incorrect, per the above rule.

3.In a "like-kind" exchange of an investment asｓｅｔfｏｒa similar asｓｅｔthat will also be held as an investment, no taxable gain ｏｒloss will be recognized on the transaction if both assets consist of:

a. Convertible debentures.

b. Convertible preferred stock.

c. Rental real estate located in different states.

d. Partnership interests.

答案：C

Explanation

Choice "c" is correct. No taxable gain ｏｒloss will be recognized on a like-kind exchange if both assets are tangible property. Rental real estate located in different states qualifies fｏｒa like-kind exchange.

Choices "a", "b", ａｎｄ　"d" are incorrect. In ｏｒｃｅｒto meet the "like-kind exchange" requirements fｏｒnonrecognition of gain ｏｒloss, the property exchanged must be tangible property. Convertible debentures, convertible preferred stock, ａｎｄ　partnership interests are not considered tangible property.

Exception: If the same class of stock of the same corporation is exchanged, it will qualify fｏｒ"substituted basis."

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