Drake Software Evaluation Guide

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2 1 2 | C P E E x a m 2 0 0 8 D R A K E S O F T W A R E34. In an 1120 return, to reconcile income per books with income per return, go to:a) M-1 screenb) View Forms and print an income statementc) Income tab and click Reconciled) Reconciliation of Income tab and click Schedule M35. In an 1120 corporate return, how do you find the Principal Business Activity code number?a) On screen 1, General Information tab, select a code in the Principal Business Activities list.b) On either the Taxes and Licenses screen or the MISC screen, click in the Principal BusinessActivity code field.c) Go to the Schedule K screen, right-click in the Principal Business Activity code text box,select View Help.d) Consult your Drake Software manual, where there is list of all Principal Business Activitycode numbers.36. What operation does CTRL + S perform in data entry?a) Opens a return in the Data Entry Menub) Splits a Married Filing Joint return into two Married Filing Separate returnsc) Sends a PDF copy of the return to the Drake Document Managerd) Opens the return in Print/View Mode37. Which of the following fields is automatically completed when you begin entering data?a) The dependent Relation field on screen 2b) The Amount field on the 2441 screenc) The Wages, tips field on the W2 screend) The ERO’s PIN Signature on the PIN screen38. Which Setup option allows for easier viewing of data entry fields?a) Field Flagsb) Magnify Fieldsc) Global Flagsd) Detail Worksheet39. In a Corporate Return, which page of the return is used to see if the return is in balance?a) Page 2b) Page 3c) Page 4d) Page 540. A Partnership is required to file a Schedule M-3 if at the end of the taxable year, it’s gross assestsreported on Schedule L of Form 1065 are equal to or greater than:a) $ 1 millionb) $ 5 millionc) $10 milliond) $15 millionDrake Software Evaluation GuideCopyrighted Material
2 0 0 8 D R A K E S O F T W A R E C P E E x a m A n s w e r S h e e t | 2 1 3CPE Exam Answer SheetCircle the appropriate response on this answer sheet for each of the questions on the CPE Exam. Please returnthe completed Exam Answer Sheet and the 2008 Evaluation on page 214 before April 15, 2010 to: EducationDepartment, Drake Software, 235 E. Palmer Street, Franklin NC 28734, or fax to (828) 349-5713.1. A B C D2. A B C D3. A B C D4. A B C D5. A B C D6. A B C D7. A B C D8. A B C D9. A B C D10. A B C D11. A B C D12. A B C D13. A B C D14. A B C D15. A B C D16. A B C D17. A B C D18. A B C D19. A B C D20. A B C D21. A B C D22. A B C D23. A B C D24. A B C D25. A B C D26. A B C D27. A B C D28. A B C D29. A B C D30. A B C D31. A B C D32. A B C D33. A B C D34. A B C D35. A B C D36. A B C D37. A B C D38. A B C D39. A B C D40. A B C DCopyrighted MaterialDrake Software Evaluation Guide
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Drake Software Evaluation Guide

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