1. _______ are codes created in Corptax which are used to identify an organization’s data.

Ans: Profiles

2. Provision workpapers are accessible through which of the following?

Ans: All of the above

3. Which of the following will generate a within and without stock option calculation in the
provision workpapers?
Ans: MPE
Use this workpaper to review the stock option equity adjustment affecting current taxable
income. This workpaper includes MPE, MTCE, and GTCE adjustments.

4. Click this button to update a report with current data:

Ans: Refresh

5. Which override rate type should you use to apply a different tax rate to the tax return column of
the return to provision?
And: Compliance
6. In the PEAR provision process flow, the P stands for which of the following?
Ans: Profiles

7. Footnote classification apply to:

Ans: the entire enterprise

8. The Single Data Entry workpapers require the following set up:
Ans: single Data Entry classification assigned to adjustments

9. What report can you launch to review the current and deferred tax rates being used for the
selected context?
Ans: Provision Setup Options and Review

10. What is the first step in creating assignments?

Ans: Select your package and manage assignments
11. ________are used to roll up reports to a higher level of detail.
Ans: Adjustment classifications

12. When processing a package during the amount import process, which option allows you to add
imported amounts to existing balances in Corptax?
Ans: Transaction

13. The Book to Tax – Automated Adjustments window will be empty unless ______.
Ans: automatic adjustments have been setup

14. Which worksheet do you use to select the Prior Year-End Reporting Context Case?
Ans: Case selector

15. You can reclass valuation amounts to the Prior Year Balance Sheet Adjustment column of the
Deferred Income Tax Provision in which workpaper?
Ans: Valuation Allowance Allocation Data Entry
16. Which of the following is TRUE for foreign provincial taxes in the provision workpapers?
Ans: The blended rate must be entered as an override in the tax rate profile.

17. Which report must you launch before the Valuation Data Entry report will populate?
Ans: Deferred Income Tax Summary – Tax Effected

18. If an adjustment is missing from the Single Data Entry workpaper for a foreign entity, what is the
likely cause?
Ans: The principle place of business is United States

19. In which workpaper should you enter Tax Contingency (FIN48) adjustments?
Ans: Both A and C

20. Which of the following can you use to calculate valuation allowances?
Ans: percent and amount of footnote classification tax effected amount
21. In the provision Loss Carry forward schedules, you enter losses generated ________.
Ans: as positive amounts

22. Nonconventional source fuel credit effecting the current provision only is an example of a credit
that would be entered in which workpaper?
Ans: Other US Tax Credits

23. Which menu do you use to access workflow assignment reports?

Ans: View, Workflow Reports

24. Which adjustment type should you use to enter Basis adjustments that only effect provision?
Ans: NT

25. Which statement is NOT TRUE of the State Income Apportionment Usage Flags worksheet?
Ans: The default is to have nothing checked for the apportionment accounts.
26. Which of the following are TRUE statements concerning the tax rates?
Ans: Tax Rates from the Advanced Global Provision can be migrated to the tax rate profile as
override rates

27. The State Provision workpapers calculate which of the following?

Ans: All of the above

28. Changes to the data in the State Filing Method and Nexus report are entered in the following:
Ans: Entity, Entity Navigator, Jurisdiction Information, Jurisdiction Profile

29. In addition to the federal case selections, the State Provision needs to define which cases?
Ans: All of the above

30. What is different about how state provision adjustments are entered from federal provision
adjustments?
Ans: Location
31. Which of the following is a post-apportionment adjustment type code?
Ans: STN

32. Which workpapers is one of the required Tax Contingency disclosure reports?
Ans: Tax Position Rollforward

33. You can export workpapers to Microsoft Excel by _____.

Ans: right-clicking anywhere on the workpaper

34. From which workpaper can you add new Tax Contingency (FIN 48) tax position or edit an
existing tax position?
Ans: Both B & C

35. The data selector available in the Tax contingency workpapers allows filtering for which of the
following fields?
Ans: All of the above
36. After you roll over the provision, what is the next required workpaper process?
Ans: Repeat the PEAR process, starting with Profiles

37. Which option is available when you select the Processing Options for Copy Current Period from
Other Period, Copy to New Period process?
Ans: All of the above

38. It’s second quarter and you have calculated your forecast rate in Microsoft Excel, which interim
method should you use in Corptax?
Ans: Tax rate data entry
39. Using the Tax Rate Data Entry method for interim reporting, you must enter the following:
Ans: All of the above

40. The default category for discrete items in the Interim reports, computed method is _______.
Ans: Federal Current

1. PEARL process in Corptax – stands for Prepare (data profiles), Enter (or import data), Adjust
(adjust amounts using adjustments), Review (returns from Tax Returns screen), and Learn. See
attached file for reference.
2. Questions and answers from last exam:
a. Which of the following worksheets can you use instead of the Tax Contingency Analysis
of Cumulative Probability to enter the Tax Contingency Estimated Outcome Percent?
i. Answer = Tax Contingency Amount Data Entry workpaper
ii.

b. Which worksheet would you use to select only the sales factor to compute
apportionment?
i. Answer = State Options workpaper
ii.
c. Which statement is NOT TRUE of the State Income Apportionment Usage Flags
worksheet?
i. Answer = The default is to have nothing checked for the apportionment
accounts
1. When this workpaper is launched, it displays with the default accounts
checked.
ii.

d. You can add itemized descriptions in which of the following workpapers?

i. Answer = Provision Description Entry
 ii.
e. GAAP adjustments shown on the Book and GAAP adjustments workpaper for a U.S.
entity are determined by which of the following adjustment codes?
i. Answer = GA* Type adjustments
 ii.

If anyone has additional questions they have recorded and do not have the answer to, feel free to send
it over and I can look up the answers for you. Please let me know if you have any questions or need
additional information.

22. You can add itemized descriptions in which of the following workpapers?

Provision Description Entry.

14. GAAP adjustments shown on the Book and GAAP Adjustments workpaper for a U.S. entity are
determined by which of the following adjustment codes? GA* type codes