October 31, 2018 FOCUS
CPE EXAM: 8 common errors in sales tax audits (For OSCPA members ONLY; please mark your answers.)
1. Te burden of proving that a sale of tangible personal property is an exempt sale rests upon:
a. Te purchaser of tangible personal property. b. Te seller of tangible personal property. c. Both the buyer and seller are responsible. d. Te party holding the Oklahoma resale permit.
2. Delivery charges are subject to sales tax if: a. Delivery occurs outside of Oklahoma. b. Delivery charges are separately stated. c. Delivery charges are included in the selling price. d. Delivery charges are never taxed.
3. An Oklahoma resale permit allows for what type of items to be purchased tax exempt?
a. Tangible personal property consumed in a business b. Furniture and fixtures used in a business c. Tangible personal property to be resold d. Tangible personal property to be taken out-of-state
1-B, 2-D, 3-C, 4-A; 5-C
Please use the following scale to complete the below evaluation: 1=strongly agree; 2=agree; 3=neutral; 4=disagree; 5=strongly disagree 1) Te stated learning objectives were adequately met. 2) Te authors conveyed a strong knowledge of the subject matter. 3) Te article was timely and relevant. 4) Te article and exam were well-suited to my background, education and experience.
1 1 1 1
2 2 2 2 3 3 3 3 4 4 4 4 5 5 5 5
My overall rating for the self-study program is: Poor Fair Average Very Good Excellent It took me ____ hours and ____ minutes to read the article and complete the exam.
Name: ____________________________________________ OSCPA Member No.: ____________________ Firm/Company: ______________________________________ Email address (where the CPE certificate will be sent): _________________________________________________________________________________________________
Payment Information (choose one): Enclosed is a check for $20.00 Please charge my credit card $20.00
made payable to the Oklahoma Society of CPAs. .
4. A sales agreement requiring the buyer to pay the sales tax on the sale of tangible personal property:
a. Relieves the vendor of the liability to collect the sales tax. b. Relieves the buyer of the liability to report the sales tax. c. Does not relieve the vendor of the liability to collect sales tax.
d. Relieves both the buyer and the seller of the liability to collect sales tax.
5. Tangible personal property brought into Oklahoma for storage, use or consumption is subject to:
a. Oklahoma sales tax. b. Oklahoma use tax. c. Out-of-state sales tax. d. Out-of-state use tax.
Tis is a: Personal credit card Corporate card
Card number __________________________________________________________________________________ Exp. Date (required) _____________________________ Name as it appears on the card _____________________________________________________ Signature ______________________________________________________
After completing the exam above, please mail this page (photocopies accepted) along with your payment information to: Oklahoma Society of CPAs / CPAFOCUS Self-Study / 1900 NW Expressway, Ste 910 / Oklahoma City, OK 73118-1898
12 CPAFOCUS September/October 2018
| Page 2
| Page 3
| Page 4
| Page 5
| Page 6
| Page 7
| Page 8
| Page 9
| Page 10
| Page 11
| Page 12
| Page 13
| Page 14
| Page 15
| Page 16
| Page 17
| Page 18
| Page 19
| Page 20
| Page 21
| Page 22
| Page 23
| Page 24
| Page 25
| Page 26
| Page 27
| Page 28
| Page 29
| Page 30
| Page 31
| Page 32