CPA FAR Task-Based Simulations (TBS) – 40 Practice Questions with Answers & Explanations [2025]

The Financial Accounting & Reporting (FAR) section of the CPA Exam is one of the most comprehensive and challenging parts, requiring not just technical accounting knowledge but also the ability to apply concepts in real-world scenarios. The Task-Based Simulations (TBSs) represent a significant portion of the FAR exam and test your ability to analyze data, perform calculations, and present accurate conclusions.

This Master Collection of 40 CPA FAR TBS Questions compiles all four sets we have prepared, covering the most essential topics including pensions, leases, consolidations, intercompany transactions, deferred tax assets/liabilities, nonprofit and governmental accounting, and cash flow adjustments. Each simulation is presented with a requirement, detailed solution, and explanation to mirror the actual CPA exam style.

Whether you’re preparing in the United States, Canada, UK, or Australia, this complete TBS practice set will strengthen your conceptual clarity and boost your exam readiness.

We will present:

• Part 1 (Q1–10): Core Accounting & Journal Entries

• Part 2 (Q11–20): Revenue Recognition, Leases & Bonds

• Part 3 (Q21–30): Government, NPO & Cash Flow Adjustments

• Part 4 (Q31–40): Pensions, Consolidation & Advanced Scenarios

This Master CPA FAR Task-Based Simulations Post has brought together 40 high-quality practice TBS questions with answers and explanations that reflect the real CPA exam structure. By practicing these simulations, you strengthen your problem-solving skills and improve your ability to handle data-heavy, multi-step accounting problems—exactly the kind you’ll face on test day. We recommend revisiting these problems multiple times, noting the explanations, and using them alongside CPA MCQs for full exam preparation. If you’ve completed these TBS sets, you are well on your way to mastering FAR.

Explore our MCQs CPA FAR, REG , AUD , BAR, TCP, & ISC Master Sets