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Clean Up – Practice Exam

By Beth McTeer / August 31, 2022

CDB Clean Up Clean Up – Practice Exam

This practice exam can be taken as many times as needed to feel confident and prepared for the Clean Up Exam.

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Question 1 of 10

1. Question
If your client suddenly remembers a business line of credit as you are reviewing the final reports with them, what do you do?
- Finish the cleanup without capturing the line of credit
- Finish the cleanup and include the line of credit
- Explain that cleaning it up is out of scope of the current agreement, but you will do it and depending upon the complexity involved there may be an additional fee
- Edit the agreement of services to include the line of credit
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Question 2 of 10

2. Question
You need last year’s tax return from the client’s tax preparer, what should you do?
- Email the CPA
- Email the CPA and copy the client
- Go to the CPA's office
- Ask the client to contact his CPA
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Question 3 of 10

3. Question
If you are not able to finish the cleanup on time because your child was sick for a week, what should you do?
- Explain the situation to your client only if they ask
- Postpone the deadline without telling the client why
- Wait until the day the cleanup was supposed to be finished before communicating with the client
- Call your client and let them know about the possibility of delay as soon as you know of it
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Question 4 of 10

4. Question
What is the best way to collect the documents needed for accurately completing a clean up?
- Go to their office
- Send them a box to mail the documents to you
- Create a template to gather documents
- Send them an envelope for each month being cleaned up
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Question 5 of 10

5. Question
How does conducting a physical inventory count help you during a cleanup?
- Confirms that inventory has been sold correctly
- Confirms inventory has been cleaned up
- Confirms that all sales tax payments have been cleared
- Reconciles the Balance Sheet to the Trial Balance
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Question 6 of 10

6. Question
What documentation could you need for cleaning up cash? (Select all that apply.)
- Receipts
- Deposit slips
- Check images
- Credit card statements
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Question 7 of 10

7. Question
What do you need to do to clean up the depreciation expense account? (Select all that apply.)
- Record assets purchased
- Record assets sold
- Adjust for obsolete assets
- Create depreciation schedule
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Question 8 of 10

8. Question
If you have all the original purchase documents for prepaid assets, you do NOT need to create a prepaid asset schedule to track the monthly adjustments.
- True
- False
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Question 9 of 10

9. Question
How can you confirm that notes payable is cleaned up?
- Reconcile the notes payable accounts
- Reconcile the Balance Sheet to the loan statement
- Reconcile the Income Statement to the loan statement
- Reconcile the Balance Sheet to the Trial Balance
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Question 10 of 10

10. Question
What does checking the business search website for your client’s location NOT tell you?
- Verifies the entity is registered.
- Confirms what type of entity was registered.
- Verifies that the registered entity is current.
- Confirms that the entity is up to date on its taxes.
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