Mariano Luiz King · PrepPH Founder
Free CPA Board Exam reviewer with mock questions from across its 6 subjects. Try the free sample questions below and read the full explanation for each. No sign-up needed.
Questions from across the subtests, picked from core topics. Pick an answer to see whether you got it right, along with the full explanation. Taxation rates and thresholds change often, so this set uses only stable taxation items.
Equipment costs ₱500,000, has a 5-year useful life, and ₱50,000 residual value. Compute annual straight-line depreciation.
/year.
Inventory has a cost of ₱80,000 and NRV of ₱72,000. At what amount should it be reported under PAS 2?
PAS 2 requires reporting inventory at the lower of cost or NRV: ₱72,000 (an ₱8,000 write-down).
An investor owns 30% of a joint venture reporting ₱1,000,000 net income. Using the equity method, find the investor's share of profit and the change in "Investment in Joint Venture."
Share of profit ; Investment in JV increases by ₱300,000 under the equity method.
A product sells for ₱100 with variable cost ₱60/unit; fixed costs are ₱200,000. Find the break-even point in units.
units.
A project costs ₱200,000 today and returns ₱250,000 in one year. At a 10% discount rate, find its NPV and state whether to accept.
; (positive → accept).
Inherent risk is 80%, control risk is 50%, and the auditor wants audit risk ≤5%. Find the maximum acceptable detection risk.
.
A vatable sale is ₱100,000 (VAT-exclusive). Find the VAT due and total invoice amount at the 12% standard rate.
; total invoice .
Party A consents to sell a specific parcel of land to Party B for ₱1,000,000, both with capacity to contract. Identify the three essential requisites present.
The three essential requisites of a contract are consent (mutual agreement), object certain (the specific land), and cause/consideration (the ₱1,000,000 price).
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Practice more CPA Board Exam questionsThe CPA Board Exam covers 6 subjects: Financial Accounting and Reporting (FAR), Advanced Financial Accounting and Reporting (AFAR), Management Advisory Services (MAS), Auditing Theory and Practice, Taxation, and Regulatory Framework for Business Transactions (RFBT). Each subject has its own weight in your overall result.
Yes. Under the PRC weighting, all six CPA subjects (FAR, AFAR, MAS, Auditing, Taxation, and RFBT) carry equal weight, about 16.67% each.
Every subject carries the same weight, so spread your time evenly and spend extra on your weakest one. Practice with questions that explain the answer so you learn the reasoning, and track which topics you keep missing.
Check the Professional Regulation Commission (PRC) website at prc.gov.ph and your Board’s announcements. Schedules, requirements, and rules can change, so confirm the details there before you apply.
They can. Some topics, such as laws, codes, and rates, get amended over time, so check them against the latest official issuances before the exam instead of relying on any single reviewer, including this one.
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