[Anonymous]

NINJA Question –

Also regarding Question 319 Category 2C Inventory – the one where you’re asked what to report the loss of a company that lost/destroyed its inventory – it tells you that you can get $5000 for some of the destroyed inventory – I get that you subtract that 5000 to figure out the insurance reimbursement but why do you subtract it again when you give the answer for the loss? It seems to me like it’s being double counted. Thanks in advance.

[Anonymous]

Are you studying reg? The 5,000 is the allowed deduction for organizational expenses. I'm not sure what your talking about if your not studying reg

To get past the assessment phase you must answer 35% of the questions.

[Anonymous]

Thanks cpa8488 – it's actually a FAR question – maybe i should just cut and paste it. But wow, 35% gets you out of the assessment phase for FAR I think that's like 2275 mcq bc I think there's like 6500 questions – i better get cracking

[Anonymous]

There are not 6500 questions. There are 1695 questions in FAR (not including sims)

[Anonymous]

whoops, thanks for the clarification allaboutstout – I guess those 6400+mcq are for all four tests – doh – whew b/c I was seriously thinking I wasn't going to make it out of the assessment phase in time for my test 5/29/15.

[Author]

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