[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

[stoleway]

Wiley Test Bank

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[GoVPI]

Consider the market for SUVs. Suppose there is a large increase in the price of gasoline as well as increase in the price of steel (used in production of SUVs). What is the predicted effect of these events on the equilibrium quantity and price?

A) Equilibrium Quantity will fall and eq price will rise

B) Eq Quantity will rise and eq price will fall

C) Eq quantity may rise, fall, or stay the same and the eq price will rise

D)Eq quantity will fall and the eq price may rise fall or stay the same

BEC 8/14/14 - Passed
Graduated from college 12/13/14
AUD 8/31/15 - 74. Retake - Passed
REG
FAR

[M.O.D.]

Rise in gas will shift demand curve to left.

Rise in steel price will shift supply curve to left.

Therefore qty will fall, but the price is indeterminate.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[stoleway]

A

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[M.O.D.]

Why A?

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[GoVPI]

MOD is right, MOD you will probably score 99 on BEC.

Most of the questions i've been posting lately have been from Beckers final exams. They are very hard!

They have homework questions, progress tests, and final exams. I do way better on the progress tests (random tests of 24 outta 1300 MCQ) than I have done of the final exams.

BEC 8/14/14 - Passed
Graduated from college 12/13/14
AUD 8/31/15 - 74. Retake - Passed
REG
FAR

[GoVPI]

BTW stole, I chose A also. But its D

BEC 8/14/14 - Passed
Graduated from college 12/13/14
AUD 8/31/15 - 74. Retake - Passed
REG
FAR

[stoleway]

So which one is the answer?

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[M.O.D.]

It is D. You cannot know the final price because you don't know which curve shifted more.

Ie did the gas price have a bigger effect on demand or did the steel price have a bigger effect on supply.

Draw the four curves (two before and two after), and you will see for yourself.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[M.O.D.]

The two broad groupings of information systems control activities are general controls and application controls. General controls include controls

A. Designed to assure that only authorized users receive output from processing.

B. For developing, modifying, and maintaining computer programs.

C. Designed to ensure that all data submitted for processing have been properly authorized.

D. Relating to the correction and resubmission of faulty data.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[stoleway]

For developing, modifying, and maintaining computer programs.

The rest are features of Application control

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[lauren725]

MOD – is it B?

AUD - 73,91
FAR - 79 - Thank you God!
BEC - 73,79!!!!
REG - 92 whatttt??!

I used Becker review + flashcards, Ninja Audio, Ninja MCQ supplement on BEC and REG.

Done! Praise God!

[Zackrampage]

Hmm thought general had to do with passwords and policy manuals.

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

[M.O.D.]

Answer (B) is correct.

General controls are policies and procedures that relate to the entity’s overall IT environment. They support the effective functioning of application controls by helping to ensure the continued proper operation of information systems. General controls include controls over (1) data center and network operations; (2) systems software acquisition and maintenance; (3) access security; and (4) application systems acquisition, development, and maintenance.

stoleway has the Gleim answer key 🙂

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[M.O.D.]

To ensure privacy in a public-key encryption system, knowledge of which of the following keys is required to decode the received message?

I Private

II Public

A. I only.

B. Neither I nor II.

C. Both I and II.

D. II only.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[Author]

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