Section 2: 15–25%R8
Business Structure and Federal Regulation
Exam Insight
Choice-of-entity questions test liability, management, and taxation differences across the major business forms, while the corporate-governance and securities rules are perennial REG favorites. Knowing which form gives limited liability and which fiduciary duties apply lets you answer fast.
CPA Exam Lab is an independent study resource and is not affiliated with, endorsed by, or sponsored by the AICPA® or NASBA. Practice questions are original content created for study purposes. “CPA” is a registered trademark of the AICPA.
What AICPA Wants You to Know
- 1Compare the major business forms on formation, liability, management, and taxation
- 2Apply partnership rules on formation, liability, fiduciary duties, and dissociation under RUPA
- 3Explain corporate formation and when courts pierce the corporate veil
- 4Apply the business judgment rule and the duties of care and loyalty
- 5Describe shareholder rights and derivative suits
- 6Summarize federal securities (1933/1934) and employment regulation at a high level