[mjbey1s]

Has anyone ever used Gleim for FAR? I am thinking about buying it if I don’t get a passing score tomorrow on FAR? I will also be using Becker and Ninja? Does anyone know if the multiple choice in Gleim are different? I want a fresh look at questions.

[Ag12thman]

@mtaylo24 – Thanks for sharing that. Does the software also explain why the incorrect answers are incorrect? In your example, does it give an explanation as to why choices A, B, and D are not the correct answers???

FAR: July 2016

[mtaylo24]

Yeah, if you click on a, b, or, d, you will get a different response.

Question: 1 Mike is a CPA. Widget, Inc., is an accrual-basis taxpayer. In Year 3, while preparing Widget’s Year 2 return, Mike discovered that Widget failed to include income on its Year 1 return that Widget received in Year 2 but that should have been included in income in Year 1 under the accrual method of accounting. What must Mike do?

A. Include the income on the Year 2 return.
Answer (A) is incorrect.
An amended return would need to be filed, and the agent would file an amended return at the request of the taxpayer.
B. Change Widget to the cash method of accounting.
C. Advise Widget of the error and the consequences of the error.
D. Refuse to prepare Widget’s Year 2 return until Widget agrees to amend its Year 1 return to include the amount of income.

AUD - 1st - 60 (12/12), 61 (2/13), 61 (8/13), 78! (11/15)
REG - 55 (2/16) 69 (5/16) Retake(8/16)
BEC - 71(5/16) Retake (9/16)
FAR - (8/16)

[Author]

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