200+ Free CB Bookkeeper Practice Questions

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Which timing is correct for a December consulting project completed on December 29 and billed on January 3 under accrual accounting?

Recognize revenue in December when the service was earned

Recognize revenue when cash is collected on January 3

Record 50% when cash moves and 50% at month-end

Do not record it until the financial statements are issued

to track

2026 Statistics

Key Facts: CB Bookkeeper Exam

4 parts

Official exam structure

AIPB handbook

75% / 70%

Passing thresholds

Prometric parts / workbook finals

2 yrs

Experience requirement

or 3,000 part-time/freelance hours

$225-$260

Minimum direct exam path

before optional workbooks/course

3 years

Finish-all-parts window

AIPB handbook

60 CPECs

Renewal every 3 years

AIPB continuing education requirement

AIPB publicly describes the CB as a four-part multiple-choice certification path rather than a single weighted exam. Parts 1 and 2 are taken at Prometric in separate 2-hour sessions, while Parts 3 and 4 are open-book finals in the Inventory and Internal Controls workbooks. Passing thresholds are 75% for the Prometric parts and 70% for the workbook finals. AIPB does not publicly publish fixed item counts or official percentage domain weightings in the current designation handbook.

Sample CB Bookkeeper Practice Questions

Try these sample questions to test your CB Bookkeeper exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 200+ question experience with AI tutoring.

1Which timing is correct for a December consulting project completed on December 29 and billed on January 3 under accrual accounting?

A.Recognize revenue in December when the service was earned

B.Recognize revenue when cash is collected on January 3

C.Record 50% when cash moves and 50% at month-end

D.Do not record it until the financial statements are issued

Explanation: Under the accrual basis, recognition follows when revenue is earned or an expense is incurred. The other answer describes the opposite basis. Splitting the entry or waiting for statement issuance is not a normal recognition rule.

2The cash ledger shows $9,650. The bank statement shows $10,010. Deposits in transit are $720, outstanding checks are $1,080, a bank service charge is $45, interest earned is $15, and an NSF check is $210. What is the adjusted cash balance?

A.$9,650

B.$9,705

C.$9,620

D.$10,010

Explanation: Bank-only timing items adjust the bank side, while statement items not yet in the books adjust the book side. After both sides are updated for their respective items, they should reconcile to the same adjusted cash balance. Service charges and NSF checks reduce the book side, while interest increases it.

3Which classification is most appropriate in this situation? A retail clerk works a repeating weekly schedule, is supervised by a store manager, and is paid hourly from the regular payroll cycle.

A.Employee

B.Independent contractor

C.Volunteer

D.Temporary agency worker by default

Explanation: Recurring scheduled work under close supervision is classic employee treatment Worker classification depends on the degree of behavioral and financial control and the overall relationship, not just what the parties call it. Misclassification can create payroll-tax and wage-hour compliance problems.

4A machine cost $28,000, has $2,000 salvage value, and is expected to produce 130,000 units. It produced 18,000 units this year. Under units-of-production, what depreciation should be recorded for the year?

A.$3,600

B.$0.2

C.$1.56

D.$1.44

Explanation: Units-of-production ties depreciation to actual usage. First compute depreciation per unit using cost minus salvage divided by total expected units, then multiply by current-period units produced. The other options stop too early or divide by the wrong base.

5Beginning inventory was 100 units at $10 each. Purchases were 80 units at $11 each, 70 units at $12 each. 140 units were sold. Under FIFO, what is ending inventory?

A.$1,280

B.$1,400

C.$1,200

D.$1,440

Explanation: FIFO assumes the earliest units are sold first. That means cost of goods sold comes from the oldest layers and ending inventory remains in the newest layers. Working through the layers in order leads to the correct ending inventory.

6Which control best reduces the risk of unauthorized price changes in the inventory system?

A.Limit system access by role and review exception reports of master-file changes

B.Combine all custody, authorization, and recordkeeping in one trusted employee

C.Delay review until year-end because frequent review wastes time

D.Rely on verbal assurances instead of documented procedures

Explanation: Access control plus change monitoring is stronger than trust alone. Strong internal control limits opportunity, improves detection, or both. The other choices weaken accountability by concentrating duties, delaying review, or removing documentation.

7Elm Street Legal Support completed $1,275 of services in April but will bill the customer in May. What adjusting entry is needed at April end?

A.Debit Accounts Receivable $1,275 and credit Service Revenue $1,275

B.Debit Cash $1,275 and credit Service Revenue $1,275

C.Debit Unearned Revenue $1,275 and credit Service Revenue $1,275

D.Debit Service Revenue $1,275 and credit Accounts Receivable $1,275

Explanation: Revenue is recognized when earned, even if billing happens later. The adjusting entry sets up the receivable and records the revenue in the period the work was performed. Cash is not involved yet, and unearned revenue applies only when cash was collected before earning the revenue.

8A cash receipt should have been recorded as $2,480, but it was posted as $2,840. What is the correcting entry amount if the original posting already affected the books?

A.$360

B.$2,480

C.$2,840

D.$5,320

Explanation: When a transaction was recorded with the wrong amount, the correction usually adjusts only the difference between the correct and recorded amounts. Reposting the full amount would duplicate part of the transaction. The goal is to bring the account from the recorded balance to the correct balance.

9Which statement best reflects how employer-paid reimbursement under an accountable plan with proper substantiation is generally treated for payroll-tax purposes?

A.It is generally excluded from taxable wages when the accountable-plan rules are satisfied

B.It is never reported anywhere on payroll records

C.It is always excluded from taxable wages under every circumstance

D.It is recorded only on the bank reconciliation and not in payroll

Explanation: Properly substantiated accountable-plan reimbursements are generally not treated as taxable wages Payroll taxation depends on whether a payment is treated as wages or a qualified exclusion under tax law. Bookkeepers need to know which amounts belong in taxable payroll and which require special handling.

10An asset cost $18,000, has salvage value $0, and a 4-year life. Under sum-of-the-years'-digits, what is depreciation in year 2?

A.$5,400

B.$4,500

C.$3,600

D.$7,200

Explanation: The SYD method multiplies the depreciable base by the year-specific fraction. For year 2, the numerator is the remaining life weight of 3 and the denominator is the sum of digits through 4. Straight-line and cost-only calculations miss the required weighting or ignore salvage value.

About the CB Bookkeeper Exam

The CB Certified Bookkeeper credential is AIPB's national certification for experienced bookkeepers. The four-part exam covers adjusting entries, error correction and bank reconciliation, payroll, depreciation, inventory, and internal controls/fraud prevention.

Assessment

4 parts: Part 1 Adjustments/Error Correction (Prometric, 2 hours), Part 2 Payroll/Depreciation (Prometric, 2 hours), Part 3 Inventory workbook final (untimed), Part 4 Internal Controls/Fraud Prevention workbook final (untimed)

Time Limit

2 hours each for Parts 1-2; Parts 3-4 untimed

Passing Score

75% on Parts 1-2; 70% on Parts 3-4

Exam Fee

$25 member / $60 nonmember registration + $100 each for Parts 1 and 2 (American Institute of Professional Bookkeepers (AIPB) / Prometric)

CB Bookkeeper Exam Content Outline

Part 1 / Test 1

Adjusting Entries

Accrual vs cash basis, accrued revenue and expenses, unearned revenue, prepaid expenses, adjusted trial balance, and month-end financial statement preparation.

Part 1 / Test 2

Error Correction and Bank Reconciliation

Finding bookkeeping errors, using the trial balance, reconciling bank accounts, and correcting current-period accrual and deferral mistakes.

Part 2 / Test 1

Payroll

Worker classification, wage-and-hour basics, payroll withholding, deposits, forms W-4/941/940/W-2/W-3, and payroll journal entries.

Part 2 / Test 2

Depreciation

Book vs tax depreciation, straight-line and accelerated GAAP methods, units of production, MACRS basics, and vehicle depreciation issues.

Part 3

Inventory

Perpetual vs periodic systems, FIFO/LIFO/weighted-average costing, shrinkage, and lower of cost or net realizable value.

Part 4

Internal Controls and Fraud Prevention

Segregation of duties, noncash asset theft, check and credit-card fraud, vendor scams, and computer/internet fraud controls.

How to Pass the CB Bookkeeper Exam

What You Need to Know

Passing score: 75% on Parts 1-2; 70% on Parts 3-4
Assessment: 4 parts: Part 1 Adjustments/Error Correction (Prometric, 2 hours), Part 2 Payroll/Depreciation (Prometric, 2 hours), Part 3 Inventory workbook final (untimed), Part 4 Internal Controls/Fraud Prevention workbook final (untimed)
Time limit: 2 hours each for Parts 1-2; Parts 3-4 untimed
Exam fee: $25 member / $60 nonmember registration + $100 each for Parts 1 and 2

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

CB Bookkeeper Study Tips from Top Performers

1Master the mechanics of accruals, deferrals, and adjusted-trial-balance flow before trying to memorize edge cases.

2Treat bank reconciliation and error correction as one workflow: identify what belongs on the bank side, what belongs on the book side, and what needs a journal entry.

3For payroll, know both the compliance forms and the journal-entry flow from gross wages to net pay and employer payroll taxes.

4Work depreciation problems with a consistent setup: basis, salvage, useful life or activity base, method, then current-period amount.

5Practice inventory methods side by side so you can explain why FIFO, LIFO, weighted average, and moving average produce different answers.

6On controls questions, ask which duty should be separated, who should independently review the process, and how fraud would be prevented or detected.

Frequently Asked Questions

How is the AIPB CB exam structured?

AIPB describes the credential as a four-part exam. Parts 1 and 2 are taken at Prometric in 2-hour sessions and are split into two tests each: Adjusting Entries + Error Correction/Bank Reconciliation, then Payroll + Depreciation. Parts 3 and 4 are untimed open-book finals included in the Mastering Inventory and Mastering Internal Controls and Fraud Prevention workbooks.

How many questions are on the CB Bookkeeper exam?

The current AIPB designation handbook describes the CB as a four-part multiple-choice exam but does not publish a fixed public item count for each part. What AIPB does publish is the structure, passing thresholds, and time limits: 2 hours for each Prometric part and no time limit for the two workbook finals.

What score do I need to pass the AIPB CB exam?

AIPB lists a 75% passing grade for Part 1 and Part 2 at Prometric. The Inventory and Internal Controls/Fraud Prevention workbook finals require 70%. You must also complete the experience requirement and sign the code of ethics to earn the designation.

How much does the AIPB CB certification cost?

AIPB lists a nonrefundable registration fee of $25 for members or $60 for nonmembers, plus $100 each for the two Prometric parts. That means the minimum direct registration-and-testing path starts at $225 for members or $260 for nonmembers before workbooks or optional prep programs.

What experience do I need to become a Certified Bookkeeper?

AIPB requires proof of at least 2 years of full-time bookkeeping experience or 3,000 hours of part-time or freelance equivalent. The handbook says you have 3 years from the date you pass the exam to fulfill that experience requirement if you have not already met it.

What changed for CB Bookkeeper candidates in 2026?

I did not find an official AIPB notice announcing a 2026 blueprint or structure redesign for the CB designation. The main 2026 changes relevant to current bookkeeping study are external regulatory updates in payroll and depreciation, such as the IRS 2026 business mileage rate of 72.5 cents per mile, SSA's 2026 Social Security wage base of $184,500, and the post-January 19, 2025 permanent 100% federal bonus-depreciation rule reflected in 2026 IRS guidance.

How should I study for the CB exam?

Study by skill area instead of trying to memorize isolated entries. Build confidence with end-of-period adjustments first, then bank reconciliations and payroll workflows, then drill depreciation and inventory calculations, and finally finish with internal-control scenarios and fraud red flags. The most effective practice mixes calculations with explanation review, because the CB exam tests applied bookkeeping judgment.