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FAR UWorld Supplemental Course

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  1. WELCOME. PLEASE START HERE!

    1. Welcome to Farhat Lectures
  2. 2. How to Use This Course & Resources
  3. 3. Choosing the Right CPA Discipline
  4. 4. CPA Exam Study Tips & Common Questions
  5. 🚀Introduce Yourself
    1 Topic
  6. 🚨🚨🚨2026 AICPA Released Questions
    1 Topic
  7. REVIEW/REFRESH BASIC ACCOUNTING MODULE
    🚀Start Strong: Master the Basics Before You Advance. UWorld
  8. 📖Basics Of Accounting
    3 Topics
    |
    2 Quizzes
  9. 📖Adjusting Entries
    8 Topics
    |
    2 Quizzes
  10. 📖Financial Statements
    4 Topics
  11. 📖Closing Entries
    4 Topics
    |
    2 Quizzes
  12. 📖Reversing Entries
    3 Topics
    |
    2 Quizzes
  13. FAR 1.01- BALANCE SHEET
    📖Balance Sheet Overview
    15 Topics
    |
    1 Quiz
  14. FAR 1.02- INCOME STATEMENT
    📖Uses & Limitations of Income Statement
    2 Topics
  15. 📖Income Statement – Content, Format & Elements
    5 Topics
    |
    2 Quizzes
  16. 📖Unusual Gains/Losses & Noncontrolling Interest
    4 Topics
  17. 📖Discontinued Operations
    5 Topics
    |
    2 Quizzes
  18. 📖Earnings Per Share
    3 Topics
    |
    2 Quizzes
  19. 📖Foreign Currency Transactions
    3 Topics
    |
    1 Quiz
  20. 🎯Comprehensive Test: Discontinued Operations
    1 Quiz
  21. 🚨🚨HOW TO SOLVE SIMULATIONS (TUTORIAL + VIDEO EXAMPLES)
    ✅ CPA Exam Simulation Tutorial + AICPA Video Questions
    18 Topics
    |
    2 Quizzes
  22. FAR 1.03- COMPREHENSIVE INCOME
    📖Comprehensive Income
    6 Topics
    |
    1 Quiz
  23. 🎯Comprehensive Test: Comprehensive Income & Foreign Currency + AICPA Questions
    1 Quiz
  24. FAR 1.04 STATEMENT OF CHANGES IN EQUITY
    📖Statement Of Retained Earnings & Changes In Equity
    6 Topics
    |
    1 Quiz
  25. FAR 1.06- STATEMENT OF CASH FLOWS
    📖Introduction To The Statement Of Cash Flows
    4 Topics
    |
    2 Quizzes
  26. 📖Operating Section: Indirect Method
    4 Topics
    |
    2 Quizzes
  27. 📖Direct Method Section: Not Covered On The CPA Exam But Helpful For Converting Cash To Accrual & Vice Versa
    4 Topics
    |
    2 Quizzes
  28. 📖How To Prepare The Operating Section Statement Of Cash Flows
    2 Topics
  29. 📖Investing Section
    4 Topics
  30. 📖Financing Section
    3 Topics
    |
    2 Quizzes
  31. 📖Comprehensive Example
    1 Topic
  32. 🎯Test: Statement of Cash Flows + AICPA Questions
    1 Quiz
  33. FAR 1.07- CONSOLIDATED FINANCIAL STATEMENTS
    📖Introduction To Consolidation
    4 Topics
  34. 📖Elemination Entries Of The Investment In Subsidiary
    2 Topics
  35. 📖Balance Sheet Eliminating Entries
    2 Topics
    |
    1 Quiz
  36. 📖Elimination Of Non Depreciable Assets
    2 Topics
    |
    1 Quiz
  37. 📖Elimination Of Depreciable Assets
    2 Topics
    |
    1 Quiz
  38. 📖Elimination Of Bonds Payable
    2 Topics
    |
    1 Quiz
  39. 📖Consolidated Financial Statements
    5 Topics
    |
    1 Quiz
  40. 📖Pushdown Accounting
    1 Topic
    |
    2 Quizzes
  41. 📖Inventory Eliminating Entries
    2 Topics
    |
    1 Quiz
  42. 🎯Test: Business Combinations and Consolidations + AICPA Questions
    1 Quiz
  43. FAR 1.08- NOTES TO FINANCIAL STATEMENTS
    📖Notes To Financial Statements
    2 Topics
  44. FAR 2- NOT-FOR-PROFIT FINANCIAL REPORTING
    📖Introduction To Not For Profit Accounting / Statement Of Financial Position
    2 Topics
  45. 📖Statement Of Activities
    2 Topics
  46. 📖Statement Of Cash Flows
    7 Topics
    |
    1 Quiz
  47. 📖Contribution Revenue, Contribution Of Services And Donated Material
    6 Topics
  48. 📖Example
    2 Topics
    |
    2 Quizzes
  49. 📖Accounting For Health Care Providers
    4 Topics
    |
    1 Quiz
  50. 🎯Test: Not For Profit AICPA Questions
    1 Quiz
  51. FAR 3- GOVERNMENTAL ACCOUNTING OVERVIEW
    📖Introduction To Governmental Accounting
    6 Topics
    |
    4 Quizzes
  52. 📖Fund Accounting
    5 Topics
  53. 📖Governmental Funds
    3 Topics
  54. 📖Proprietary Funds
    2 Topics
  55. 📖Fiduciary Funds
    2 Topics
  56. 📖Modified Accrual Accounting
    3 Topics
  57. 🎯Test: Government Accounting and Reporting + AICPA Questions
    1 Quiz
  58. FAR 4- PUBLIC COMPANY REPORTING
    📖Public Company Reporting
    4 Topics
    |
    1 Quiz
  59. 📖Basic EPS
    8 Topics
    |
    1 Quiz
  60. 📖Diluted EPS
    10 Topics
    |
    2 Quizzes
  61. 🎯Test: Earnings Per Share + AICPA Questions
    1 Quiz
  62. 🎯Comprehensive Test: SEC Reporting Requirements
    1 Quiz
  63. FAR 5- SPECIAL PURPOSE FRAMEWORK
    📖Special Purpose Framework
    11 Topics
    |
    1 Quiz
  64. 🎯AICPA Questions: Cash to Accrual
    1 Quiz
  65. FAR 6- RATIO & VARIANCE ANALYSIS
    📖Financial Statement Analysis
    6 Topics
  66. 📖Ratio Analysis
    11 Topics
    |
    1 Quiz
  67. 📖Variance Analysis
    2 Topics
    |
    2 Quizzes
  68. 📖Comprehensive Practice Financial Statement Analysis
    5 Topics
  69. 🎯Test: Ratio Analysis
    1 Quiz
  70. FAR 7- CASH & CASH EQUIVALENTS
    📖Cash and cash equivalents
    4 Topics
    |
    2 Quizzes
  71. 📖Bank Recinciliation
    6 Topics
    |
    2 Quizzes
  72. FAR 8- TRADE & NOTES RECEIVABLE
    📖Account Or Trade Receivable
    12 Topics
    |
    2 Quizzes
  73. 📖Notes Receivable
    6 Topics
    |
    2 Quizzes
  74. 📖Pledging & Factoring Receivable
    6 Topics
  75. 🎯Comprehensive Test: Cash and Receivables + AICPA Questions
    2 Quizzes
  76. FAR 9- INVENTORY
    📖Perpetual Versus Periodic
    6 Topics
    |
    2 Quizzes
  77. 📖FOB Shipping & Destination
    3 Topics
  78. 📖Period & Product Cost
    4 Topics
  79. 📖Cost Flow Assumptions (FIFO, LIFO, etc.)
    6 Topics
    |
    2 Quizzes
  80. 📖Inventory Errors
    6 Topics
    |
    1 Quiz
  81. 📖LIFO Reserve
    3 Topics
  82. 📖LIFO Liquidation
    2 Topics
  83. 📖Dollar Value LIFO
    6 Topics
    |
    2 Quizzes
  84. 📖Lower Of Cost or Net Realizable Value
    11 Topics
    |
    2 Quizzes
  85. 📖Relative Sales Value Method Lump Sum Purchase
    3 Topics
    |
    1 Quiz
  86. 📖Purchase Commitment
    3 Topics
    |
    1 Quiz
  87. 📖Estimating Inventory Using Gross Profit
    5 Topics
    |
    2 Quizzes
  88. 📖Retail Inventory Method
    4 Topics
    |
    2 Quizzes
  89. 🎯Test: Inventory + AICPA Questions
    1 Quiz
  90. FAR 10.1- PROPERTY, PLANT & EQUIPMENT
    📖Cost Basis
    11 Topics
    |
    2 Quizzes
  91. 📖Interest Capitalization
    7 Topics
    |
    2 Quizzes
  92. FAR 10.2- DEPRECIATION & IMPAIRMENT
    📖Depreciation
    18 Topics
    |
    2 Quizzes
  93. 📖Depletion Expense
    3 Topics
    |
    2 Quizzes
  94. 📖Disposition Of Property Plant & Equipment
    2 Topics
    |
    1 Quiz
  95. 📖Impairment Losses
    3 Topics
    |
    1 Quiz
  96. 🎯Test: Fixed Assets including Interest Capitalization and Impairment + AICPA Questions
    1 Quiz
  97. FAR 11.1- FINANCIAL INSTRUMENTS
    📖Introduction To Investments
    2 Topics
  98. 📖Debt Securities Available For Sale
    5 Topics
  99. 📖Debt Securities Held To Maturities
    5 Topics
  100. 📖Accounting For Debt Securities
    3 Topics
    |
    2 Quizzes
  101. 📖Equity Securities
    2 Topics
    |
    2 Quizzes
  102. 📖Fair Value Option For Investments
    3 Topics
  103. 📖Impairment Of Value Of Debt Investment CECL
    5 Topics
    |
    1 Quiz
  104. 📖Statement Of Comprehensive Income & Reclassification Adjustment
    6 Topics
    |
    1 Quiz
  105. 📖Financial Instruments Disclosures
    1 Topic
    |
    1 Quiz
  106. FAR 11.2- EQUITY METHOD
    📖Equity Method
    4 Topics
    |
    2 Quizzes
  107. 🎯Test: Marketable Securities and Investments + AICPA Questions
    1 Quiz
  108. FAR 12- INTANGIBLE ASSETS WITH FINITE LIVES
    📖Intro To Intangible Assets
    6 Topics
    |
    2 Quizzes
  109. 📖Impairment Of Intangibles
    3 Topics
  110. 📖Goodwill & Goodwill Impairment
    7 Topics
    |
    2 Quizzes
  111. 📖Accounting For Computer Software Cost
    1 Topic
    |
    1 Quiz
  112. 📖Research & Development Cost
    6 Topics
    |
    1 Quiz
  113. 📖Start-Up & Initial Operating Losses
    4 Topics
  114. 📖Franchise Accounting
    2 Topics
  115. 📖Cloud Computing Arrangement
    1 Topic
  116. 🎯Test: Intangibles Assets and Software Cost
    1 Topic
    |
    1 Quiz
  117. FAR 13- PAYABLE & ACCRUED LIABILITIES
    📖Current Liabilties
    11 Topics
    |
    3 Quizzes
  118. 📖Short-Term Obligations Expected To Be Refinanced
    3 Topics
    |
    2 Quizzes
  119. 📖Payroll Liabilities
    5 Topics
  120. 📖Asset Retirement Obligation
    3 Topics
  121. 📖Exit Disposal
    2 Topics
  122. FAR 14.1- TIME VALUE OF MONEY
    📖Intro To Time Value Of Money
    3 Topics
    |
    1 Quiz
  123. 📖Present Value Of Single Amount
    4 Topics
    |
    2 Quizzes
  124. 📖Present Value Of Annuity
    4 Topics
  125. 📖Future Value Of Annuity
    5 Topics
    |
    1 Quiz
  126. 📖Present Value Of Bond Computation & Deferred Annuity
    6 Topics
  127. 📖Debt Covenant
    2 Topics
  128. FAR 14.2- BONDS
    📖Bonds
    11 Topics
  129. 📖Issue Bonds Between Interest Payments
    7 Topics
  130. 📖Types Of Bonds
    2 Topics
    |
    1 Quiz
  131. 📖CPA Exam Questions: Bonds Payable
    3 Topics
    |
    2 Quizzes
  132. 📖Fair Value Options For Libabilities
    3 Topics
  133. 📖Long Term Notes Payable
    4 Topics
    |
    2 Quizzes
  134. FAR 14.3- DEBT RETIREMENT & RESTRUCTURING
    📖Debt Retirement
    4 Topics
    |
    1 Quiz
  135. 📖Debt Restructuring
    7 Topics
    |
    2 Quizzes
  136. 🎯Test: Bonds and Other Non current Liabilities + AICPA Questions
    1 Quiz
  137. FAR 15.1- STOCKHOLDERS' EQUITY
    📖Issuing Common Stock
    10 Topics
    |
    2 Quizzes
  138. 📖Preferred Stock
    3 Topics
    |
    2 Quizzes
  139. 📖Treasury Stock
    12 Topics
    |
    2 Quizzes
  140. 📖Book Value Per Share
    4 Topics
  141. 📖Stock Subscriptions & Stock Rights
    3 Topics
    |
    1 Quiz
  142. 📖Dividends
    5 Topics
    |
    2 Quizzes
  143. 📖Property & Liquidating Dividends
    4 Topics
  144. 📖Stock Dividend
    6 Topics
  145. 📖Statement Of Stockholder’s Equity
    2 Topics
  146. FAR 15.2- PARTNERSHIP
    📖Partnership
    10 Topics
    |
    1 Quiz
  147. 🎯Test: Stockholders’ Equity
    1 Quiz
  148. FAR 16- ACCOUNTING CHANGES & ERROR CORRECTIONS
    📖Accounting Changes
    5 Topics
    |
    2 Quizzes
  149. 📖Changes In Estimates
    5 Topics
    |
    1 Quiz
  150. 📖Changes In Reporting Entity
    2 Topics
    |
    2 Quizzes
  151. 📖Error Analysis
    12 Topics
    |
    2 Quizzes
  152. 🎯Comprehensive Test: Changes in Accounting Principles + AIPCPA Questions
    1 Quiz
  153. FAR 17- CONTINGENCIES & COMMITMENTS
    📖Loss Contingency & Estimated Liability
    6 Topics
  154. 📖Premium & Coupon Explained
    6 Topics
  155. 📖Warranty Cost
    7 Topics
    |
    2 Quizzes
  156. 🎯Test: Payables and contingencies
    1 Quiz
  157. FAR 18- REVENUE RECOGNITION
    📖Revenue Recognition 5 Steps
    17 Topics
    |
    2 Quizzes
  158. 📖Long-Term Construction Contract
    14 Topics
    |
    2 Quizzes
  159. 📖Sales Returns & Allowances
    4 Topics
  160. 📖Bill & Hold
    3 Topics
  161. 📖Accounting For Sales On Consignment
    1 Topic
  162. 📖Warranty & Upfront Fees
    4 Topics
  163. 📖Sales Reconciliation
    2 Topics
  164. 📖Repurchase Agreement Options
    3 Topics
  165. 📖Incremental Cost Of Obtaining A Contract & Cost To Fulfill A Contract
    1 Topic
  166. 📖Refund Liabilities & Rights Of Return
    1 Topic
    |
    2 Quizzes
  167. 📖Contract Modification
    3 Topics
  168. 🎯AICPA Questions: Revenue Recognition
    1 Quiz
  169. FAR 19- ACCOUNTING FOR INCOME TAXES
    📖Introduction To Deferred Taxes
    3 Topics
  170. 📖Deferred Tax Liabilities
    4 Topics
  171. 📖Deferred Tax Asset & Valuation Allowance
    7 Topics
    |
    1 Quiz
  172. 📖Temporary & Permanent Differences
    7 Topics
    |
    2 Quizzes
  173. 📖Uncertain Tax Position
    3 Topics
    |
    1 Quiz
  174. 📖CPA Exam Questions & MCQs
    10 Topics
  175. 📖Net Operating Loss
    5 Topics
  176. 📖Enacted Future Tax Rates
    3 Topics
    |
    2 Quizzes
  177. 🎯Test: Income Taxes + AICPA Questions
    1 Quiz
  178. FAR 20- FAIR VALUE MEASURMENTS
    📖Fair Value Measurments
    6 Topics
    |
    1 Quiz
  179. 🎯Test: Fair Value Accounting + AICPA Questions
    1 Quiz
  180. FAR 21- LEASES
    📖Introduction To Leases
    4 Topics
    |
    1 Quiz
  181. 📖Operating & Finance Lease
    9 Topics
    |
    2 Quizzes
  182. 📖Leases- Financial Statement Presentation & Disclosures
    4 Topics
  183. 🎯Test: Leases AICPA Questions
    1 Quiz
  184. FAR 22- SUBSEQUENT EVENTS
    📖Subsequent Events
    2 Topics
    |
    1 Quiz

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Quiz 125 of 177

🎯PV and FV of an Annuity: 20 MCQs

  1. FAR UWorld Supplemental Course
  2. 📖Future Value Of Annuity
  3. 🎯PV and FV of an Annuity: 20 MCQs

Instructions on how to complete the quiz:

  1. Click on “Start Quiz” to start.
  2. “Check” to submit your answer and reveal the solution.
  3. “Skip Question” to skip the question for now.
  4. “Review” to mark question for review later.
  5. “Feedback” to inquire about the question or provide us your feedback.
    • Please make sure to reference the number of the question in your inquiry such as # 4
  6. “Quiz Summary” to finish/submit the whole quiz
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Responses

  2. Deleted User 15 April 2024

    Hello Adam,

    You’re correct, and I appreciate your thoroughness in considering both approaches. While it’s true that the Future Value of $1 table can be used, in this context, the question specifically asks for the amount Lyan should invest now to achieve a future value of $5000 after four years.

    Using the Future Value of $1 table would entail finding out how much $1 invested today would grow to in four years at 7% interest. This gives the future value of $1, but it doesn’t directly provide the present value of a future amount, which is what we need in this case.

    The Present Value of $1 table directly provides the value of a future amount in present terms, which aligns with the question’s requirement of determining the amount Lyan needs to invest now.

    So while both tables can theoretically yield the same result, the Present Value of $1 table is the more appropriate choice for this specific question, as it directly provides the present value of a future amount, aligning with the question’s requirements.

    Farhat Lectures Support Team

    1. Maroun, CPA 9 March 2026

      Hello Cyndee,

      If the question had said ten years of semiannual payments, then you would use n = 20. Here it says ten semiannual payments, so it’s 10 total payments.

      Based on the question’s wording, ten semiannual payments means 10 periods, not 20. That’s why n = 10 is appropriate.

      The “semiannual” part is handled by adjusting the rate per period, not by doubling the number of payments. Since the discount rate given is 6% annually, the semiannual rate is 3% per period (6% ÷ 2).

      Hope this makes sense!

  4. Christopher Caballero 29 May 2026

    #5 While this question seems to be easier, some people may struggle to understand it. The question does not state Melania’s age; as a result, this can confuse future users to answer this question. If Melania is 2 years old, then we have five periods instead of seven.

    1. Maroun, CPA 31 May 2026

      Hello Christopher,

      You are correct! The wording is confusing because the question does not clearly tell us that the $500,000 gift will be received 7 years from today.

      I’ve updated the question to remove the ambiguity.
      Thank you for bringing this to our attention!