AZ CPA Quick Quiz You’ve Read It, Now Get Credit Take this quiz on AZ CPA content online or submit this hard copy. Receive a score of 70 percent or more and earn one hour of CPE credit in specialized knowledge. It’s that easy! Fees: Members: $25 Nonmembers: $40 Online Access Go to www.ascpa.com/quickquiz to access links to all active quizzes. Once a quiz is purchased, a link and password will be emailed to you. Your results will be sent immediately after completion, and certificates are emailed within two business days. Hard Copy Please select one answer for each question. Fill out registration/payment information below and mail or fax to the Society office. Quiz results and certificates will be emailed to the address provided on the registration form. *This quiz will be available until May 2022. Please note that users have three attempts to pass the quiz with at least a 70 percent score.
May/June 2020 Issue of AZ CPA* 1. In this month’s Chair’s message, Ginny De Santo talks about: m Planning /Contingency Plans m Fraud Controls m The Value of Technology 2. What ASCPA member went above and beyond, creating two COVID-19/ Tax webinars for members? m Josephine Giordano m Ed Zollars m Tom Hanks 3. What is different about the ASCPA Annual Meeting this year? m It was rescheduled m It is going Virtual m There will be a musical guest 4. A business owner can discover the hypothetical value of a business by having a business valuation done. In order to find the real value, the owner would have to: m Actually sell the business m Do an eight-step analysis m Hire a BV expert 5. When selling a business, who should be removed from the payroll? m The board members
m Non-working family members m The CEO 6. According to the Cannabis Panel, the state of Arizona is in line to: m Eliminate legalized medical cannabis m Increase taxing of all cannabis use m Legalize adult-use cannabis by ballot this coming year.
7. W h a t d e p a r t m e n t ove r s e e s Arizona’s hemp program? m Arizona Dept. of Agriculture m Bureau of Alcohol, Tobacco & Firearms m Arizona Board of Accountancy 8. Taxpayers may be subject to backup withholding if they fail to: m Provide a correct taxpayer identification number (TIN) when required m Report interest, dividend, or patronage dividend income. m Either of the above. 9. Backup withholding by Partnerships or Subchapter S corporations can only be claimed by: m Partners only m Shareholders only m Partners and shareholders 10. The ASCPA’s advocacy efforts helped stop the move to change the make-up of the Accountancy Board from the current makeup of five CPAs and two public members to: m Four public members and three CPAs m Five public members and three CPAs m Five public members and two CPAs
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MAY/JUNE 2020 AZ CPA
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