CONTENTS

Preface vii

About the Authors ix

About the Contributors ix

INTRODUCTION

Chapter 1: Beginning Your CPA Review Program 3

Chapter 2: Examination Grading 15

Chapter 3: The Solutions Approach 16

Chapter 4: Taking the Examination 24

Chapter 5: Exam Content Overview 27

PROFESSIONAL RESPONSIBILITIES AND BUSINESS LAW

Module 23: Professional and Legal Responsibilities 37

Module 24: Federal Securities Acts 78

Module 25: Business Structure 107

Module 26: Contracts 153

Module 27: Sales 195

Module 28: Commercial Paper 227

Module 29: Secured Transactions 266

Module 30: Bankruptcy 284

Module 31: Debtor-Creditor Relationships 309

Module 32: Agency 329

Module 33: Regulation of Business Employment, Environment, and Antitrust 345

Module 34: Property 379

FEDERAL TAXATION

Module 35: Individual Taxation 415

Module 36: Transactions in Property 548

Module 37: Partnerships Taxation 585

Module 38: Corporate Taxation 628

Module 39: Other Taxation Topics 715

COPYRIG

HTED M

ATERIAL

APPENDICES

Appendix A: Regulation Sample Examination 759

Appendix B: Sample Regulation Testlet Released by the AICPA 783

Appendix C: 2011 Released AICPA Questions for Regulation 790

INDEX 805