[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]

@jamie

What was the breakup of theory and Calc. In the second testlet, the calcs took you long or was it thinking theory questions.

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

FROM NJ

[Anonymous]

For the WC part, the Becker practice tests have the To: xxx and From: xxx already there. Is this how it is going to be on the exam? Can you just start with the intro?

[h0wdyus]

Nick

The issue is for answer D and not B. If we read the question carefully both physical and passwd would be ruled out. We have to be very careful with this BEC test.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
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FROM NJ

[jamie7johnson]

@anothercpa23:

You go right into the intro. To and Subject fields were filled out already.

@h0wdyus

For me, it felt like 50/50. I got hung up on calculations, not theory. I think I answered all theory in less than a minute each. I'm more of a theoretical person, though.

REG - 79
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[YORKER]

@jamiejohnson any advice for those that are still studying?

[h0wdyus]

I like yorkers question. 🙂 🙂 Jamie any advice

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

FROM NJ

[Anonymous]

Were the questions dealing with calculations formatted in ways familiar to your preparation?

[YORKER]

Can someone explain why D was correct for the IT question? I thought it was B?

[h0wdyus]

@yorker

Read the following the ” ” line carefully . It mean that the employee on the CRT has access and is authorized to access. So we are not trying to block him from loging in. He is just trying to update something that he is not supposed to update. So we can use validity check, which is just checking against existing file,, does not apply .. the only choice left is the last one. That is how I thought about it after I got the answer wrong.

“control the company would incorporate to prevent an employee from making an unauthorized change to computer records unrelated to that employee's job would be to:”

FAR - 81 29th Aug 2013
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BEC - 89 29th Aug 2014
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FROM NJ

[rzrbkfaith]

@Yorker This is how I personally interpreted it…

A.

restrict the physical access to terminals. – restricting physical access would not keep someone from making authorized changes to data.

B.

establish user codes and passwords. – establishing user codes and passwords would allow restricted access to the software but it would not keep someone from changing data once in the software (assuming no other controls except user code and password).

C.

use validity checks. – validity checks only make sure that the data you input into a field is formatted correctly (i.e. dates, numbers, etc.)

D.

apply a compatibility test to transactions or inquiries entered by the user. – By process of elimination, D would be the answer (even if you had not other information). A compatibility test would compare the user restrictions with what the user was entering or querying.

Again, this is how I reasoned through it… Right, Wrong, or Indifferent

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[YORKER]

Thanks howdyus that makes sense

[YORKER]

thanks rzrbkfaith that was a great explanation

[YORKER]

thanks rzrbkfaith that was a great explanation

[Anonymous]

We chased our girl away lol….

And the other kid that took it today? He disappeared as well..

[h0wdyus]

@Nick

Not a good thing. Everyone who gets back is all bent out of shape, and either just happy that it is over or that they think it was bad.

🙂 🙂 🙂 . Yeah jamie took off. hahhaha. Till then here is a question on the most dreaded topic in BEC.

The Cutting Department is the first stage of Mark Company’s production cycle. Conversion costs for this department were 80% complete as to the beginning work in process and 50% complete as to the ending work in process. Information as to conversion costs in the Cutting Department for January 2012 is as follows:

Units Conversion

costs

Work in process at January 1, 2012 25,000 22,000

Units started and costs incurred during January 135,000 $143,000

Units completed and transferred to next

department during January 100,000

Using the FIFO method, what was the conversion cost of the work in process in the Cutting Department at January 31, 2012?

$33,000

$38,100

$39,000

$45,000

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

FROM NJ

[Author]

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