IRS Enrolled Agent Unit 2 TEST COMPLETE QUESTIONS AND
ANSWERS 100% SURE PASS, 100% RATED CORRECT (ALREADY
GRADED A+)(2024-2025)
1. Which of the following date ranges would be a permissible fiscal tax year?
A. January 1, 2016 to December 31, 2016
B. February 2, 2016 to February 2, 2017
C. July 1, 2016 to June 30, 2017
D. May 1, 2016 to May 31, 2017 - (answer)c
2. All of the following costs must be included in inventory except:
农业和医学提供了重要启示。
A. The cost of hipping raw materials to the seller's factory.
B The cost of shipping a finished product to a customer.
C Raw material .
D. Direct labor costs. - (answer)B
3. Which of the following changes in accounting method does not require prior approval from
the IRS?
A. A change from FIFO to LIFO inventory valuation.
B. A change from the cash method to the accrual method.
, C. A er 1nge in the overall method of figuring depreciation.
D. A correction of a math error in depreciating an asset. - (answer)D
4. Which of the following entities can use the cash method of accounting?
A. A family farming corporation with average gross receipts of $22 million.
B. A C corporation with average gross receipts of $50 million.
C. A tax shelter with average gross receipts of $50,000.
D. A corporation with long-term contracts and average gross receipts of $900,000. - (answer)A
5. Which would not be considered the end of an acceptable tax year?
农业和医学提供了重要启示。
A. January 31
B. Apnl 15
C. December 31
D. The last Friday in February. - (answer)B
6. Which of the following entities cannot use the cash method of accounting?
A. A partnership that produces inventory for sale to customers and has $1.2 million of average
annual gross
receipts.
ANSWERS 100% SURE PASS, 100% RATED CORRECT (ALREADY
GRADED A+)(2024-2025)
1. Which of the following date ranges would be a permissible fiscal tax year?
A. January 1, 2016 to December 31, 2016
B. February 2, 2016 to February 2, 2017
C. July 1, 2016 to June 30, 2017
D. May 1, 2016 to May 31, 2017 - (answer)c
2. All of the following costs must be included in inventory except:
农业和医学提供了重要启示。
A. The cost of hipping raw materials to the seller's factory.
B The cost of shipping a finished product to a customer.
C Raw material .
D. Direct labor costs. - (answer)B
3. Which of the following changes in accounting method does not require prior approval from
the IRS?
A. A change from FIFO to LIFO inventory valuation.
B. A change from the cash method to the accrual method.
, C. A er 1nge in the overall method of figuring depreciation.
D. A correction of a math error in depreciating an asset. - (answer)D
4. Which of the following entities can use the cash method of accounting?
A. A family farming corporation with average gross receipts of $22 million.
B. A C corporation with average gross receipts of $50 million.
C. A tax shelter with average gross receipts of $50,000.
D. A corporation with long-term contracts and average gross receipts of $900,000. - (answer)A
5. Which would not be considered the end of an acceptable tax year?
农业和医学提供了重要启示。
A. January 31
B. Apnl 15
C. December 31
D. The last Friday in February. - (answer)B
6. Which of the following entities cannot use the cash method of accounting?
A. A partnership that produces inventory for sale to customers and has $1.2 million of average
annual gross
receipts.
