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United States · Licensing exam

CPA practice test

Here are 20 free sample questions across FAR, AUD and REG, all original and written in the style of the real multiple-choice testlets. They cover settled topics: US GAAP, auditing standards and federal tax basics. Aim for 15 right, our 75% bar. Keep in mind the real 75 is a scaled score, not a percentage. After each answer you’ll see why it’s right, and you can ask the tutor to explain it another way.

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Updated October 2026 · Written from official sources, listed at the bottom of this page

Question 1 of 20

A company uses FIFO. At year-end its inventory cost $50,000. Estimated selling price less costs to complete and sell is $46,000, and current replacement cost is $44,000. Under US GAAP, at what amount should inventory be reported?

Sample of the exam: same format, 20 questions.

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OverviewCPA ExamQuestions and pass ratesHow many questions are on the CPA Exam?ScoringHow CPA Exam scoring worksBookingHow to sign up for and schedule the CPA ExamCostHow much does the CPA Exam cost?What to bringWhat to bring to the CPA ExamOnline examCan you take the CPA Exam online?Blueprints and booksCPA Exam study guide: the AICPA BlueprintsWhere to learnWhere to study for the CPA Exam
Sources: AICPA & CIMA and 2 more. Checked October 2026.

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