[jeff]

@h0wdyus

Incorrect

The answer is B. Comparable sales.

“The use of comparable sales is not an income approach to valuation of a business, it is a market approach. Under the comparable sales approach, the value of a business is determined by comparing it to other entities with comparable characteristics for which the value is more readily determinable.”

This was a tricky one

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[h0wdyus]

did not format right ..

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[EYNewHire]

$18000

[h0wdyus]

yes that is right

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[h0wdyus]

Which of the following would be most impacted by the use of the percentage of sales forecasting method for budgeting purposes?

Accounts payable.

Mortgages payable.

Bonds payable.

Common stock.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[EYNewHire]

Accounts payable.

[h0wdyus]

yes

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[EYNewHire]

Securing cooperation amongst emerging nations to limit the emissions of greenhouse gasses can be made more difficult because of:

A) Trade deficits

B) Shifts in the economic balance of power

C) Lack of genuine systemic interdependence

D) Lack of genuine functional interdependence

[h0wdyus]

will go with C

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[EYNewHire]

I did too. It's actually D.

[Anonymous]

Recognizing all of these questions even though I know how to do them all.

Keep them coming! I'm back.

[h0wdyus]

i had not seen this one.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[Zackrampage]

@howdy glad it helped. For ERM.

5 Mnemonic “SCOR” objectives:

Strategic, Compliance, Operations, Reporting objectives.

Just like becker “IS EAR AIM” :

Internal enviornment, Setting your objectives, Event identification, Assessment of Risk, Reduction of risk, Activities(control activities), Information and Communication, Monitoring.

Internal enviornment for ERM is like Control enviornment for IC. Still use mnemonic “PHRASED” except not it is “PHRASED+C” : where R is now Risk appetite and the extra C is competence.

Also the R in EAR which is Respond to risk has 4 categories mnemonic “SARA” : Share, Avoid, Reduce, Accept.

FAR - 62 , End of aug 2015
BEC - 67, 67
AUD - TBD
REG - TBD

[jamie7johnson]

@h0wdyus or @EYNewHire

Can you explain how you arrived at 18,000 in the Crain Co. question?

REG - 79
BEC - 80
FAR - 80
AUD - 77

[EYNewHire]

Well we know that the current operating income is (4,800).

Then calculate what the new operating income would be:

24,000 Rent

(10,800) Unavoidable Fixed Costs

OI= 13,200

The question asks about the increase not just what new OI will be:

13,200 – (4,800)= 18,000

[Zackrampage]

Need advice studied hard for 2 months exam in 36 hrs. Freaking out 🙁

FAR - 62 , End of aug 2015
BEC - 67, 67
AUD - TBD
REG - TBD

[Author]

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