[jeff]

REG Resources:

Free REG Notes & Audio – https://www.another71.com/cpa-exam-study-plan

REG 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

REG Score Release: https://www.another71.com/cpa-exam-scores-results-release

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

[Skrier]

@svwCPA72…I personally rewrite my notes with pen and paper, but that is a preference for me. I keep a legal pad next to me at all times to jot down any notes for items I am confused on or explanations for questions I get wrong in the software. It is just easier for me to rewrite them by hand, and I think I absorb the information better. But that is me 🙂

AUD- 84
FAR- 75
REG- 78...I am DONE!!!
BEC- 79

[svwCPA72]

Does anyone have trouble with the sims loading on Wiley? I am doing my first quiz and I got through the MCQs and went onto the sim and it is saying please wait and it has a loading circle that keeps going around but it isn't loading.

BEC: 80(8/10) expired, 77(10/14)!!!
FAR: 79(11/10) expired, 80(8/14)!!!
REG: 66(7/11), 70(1/12), 70(4/12), 73(10/13), 79(5/14)!!
AUD: 43(8/11), 64(10/11), 65(2/12), 69(7/12) 64(10/12), 73(5/13), 64(7/13), 84(11/13)!!! Thank you Another71 for your help!

Becker, Ninja Notes, Audio, Flashcard and Wiley test bank
Yaeger and Wiley book for Audit

I AM DONE!!!!

[svwCPA72]

Does anyone have trouble with the sims loading on Wiley? I am doing my first quiz and I got through the MCQs and went onto the sim and it is saying please wait and it has a loading circle that keeps going around but it isn't loading.

BEC: 80(8/10) expired, 77(10/14)!!!
FAR: 79(11/10) expired, 80(8/14)!!!
REG: 66(7/11), 70(1/12), 70(4/12), 73(10/13), 79(5/14)!!
AUD: 43(8/11), 64(10/11), 65(2/12), 69(7/12) 64(10/12), 73(5/13), 64(7/13), 84(11/13)!!! Thank you Another71 for your help!

Becker, Ninja Notes, Audio, Flashcard and Wiley test bank
Yaeger and Wiley book for Audit

I AM DONE!!!!

[Qlad]

@ insiayah….

The answer has to be A. …To purchase substantially all the assets of another company means either merging or consolidating…that can be done without shareholders consent only if the corp. already owns 90% interest in that company.

Dissolution is the only one that can be done without unanimous consent of the shareholders…in becker ch 8. pg 5…if u hear the lecture …he specifically points out to dissolution as only exception.

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Qlad]

@ insiayah….

The answer has to be A. …To purchase substantially all the assets of another company means either merging or consolidating…that can be done without shareholders consent only if the corp. already owns 90% interest in that company.

Dissolution is the only one that can be done without unanimous consent of the shareholders…in becker ch 8. pg 5…if u hear the lecture …he specifically points out to dissolution as only exception.

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Kenada]

Hello Qlad,

The answer is C.

The reason why its not A is because for Dissolution you need both BOD and Shareholders to approve.

B is not right as selling all the assets would mean they are liquidating the company and you can't do that without the shareholders approval.

C is correct since if you think about it BOD are officers of the company and if you have Fixed assets to purchase you normally would have the BOD approve it. Remember AUD – Auditors would look at the BOD minutes to see if there was any approval for purchasing large assets. You don't need Shareholders to approve that.

D is not right as amending the articles of incorporation as that is a shareholders right.

Makes sense ? i tried to explain the reasons in my own words

FAR 05/27/14; 786/110 - Done !

[Kenada]

Hello Qlad,

The answer is C.

The reason why its not A is because for Dissolution you need both BOD and Shareholders to approve.

B is not right as selling all the assets would mean they are liquidating the company and you can't do that without the shareholders approval.

C is correct since if you think about it BOD are officers of the company and if you have Fixed assets to purchase you normally would have the BOD approve it. Remember AUD – Auditors would look at the BOD minutes to see if there was any approval for purchasing large assets. You don't need Shareholders to approve that.

D is not right as amending the articles of incorporation as that is a shareholders right.

Makes sense ? i tried to explain the reasons in my own words

FAR 05/27/14; 786/110 - Done !

[Qlad]

@insiyah…yes got it…the answer i was looking at was for partnership…not corp….but this is tattooed in my mind now.. 🙂

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Qlad]

@insiyah…yes got it…the answer i was looking at was for partnership…not corp….but this is tattooed in my mind now.. 🙂

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Kenada]

@ svwCPA72 – I write my own notes – papers and coloured pen, highlighters, glitter pens you name it.

FAR 05/27/14; 786/110 - Done !

[Kenada]

@ svwCPA72 – I write my own notes – papers and coloured pen, highlighters, glitter pens you name it.

FAR 05/27/14; 786/110 - Done !

[Kenada]

Welcome Qlad 🙂 These discussions are helping reinforce the facts 🙂

FAR 05/27/14; 786/110 - Done !

[Kenada]

Welcome Qlad 🙂 These discussions are helping reinforce the facts 🙂

FAR 05/27/14; 786/110 - Done !

[Qlad]

Vex corp. executed a negotiable promissory note payable to Tamp.Co. The note was collateralized by some of Vex's assets. Tamp negotiated the note to Miller for Value. Miller endorsed the note in blank and negotiated it to Bilco for value.

Before the note became due, Bilco agreed to release Vex's collateral. Vex refused to pay Bilco when note became due. Bilco immediately notified Tamp and Miller of Vex's default. Which of the stmnts is correct?

A. Bilco will be unable to collect from Miller bcoz Miller's endoresement was in blank.

B. Bilco will be able to collect either from Miller or Tamp bcoz Bilco was Holder in due course.

C. Bilco will be able to collect from Tamp bcoz Tamp was the original payee.

D. Bilco will be unable to collect either from Tamp or Miller bcoz of Bilco's release of collateral.

I can't understand the question itself….can someone explain what is going on?…I have no idea how these negotiable instruments work…

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Qlad]

Vex corp. executed a negotiable promissory note payable to Tamp.Co. The note was collateralized by some of Vex's assets. Tamp negotiated the note to Miller for Value. Miller endorsed the note in blank and negotiated it to Bilco for value.

Before the note became due, Bilco agreed to release Vex's collateral. Vex refused to pay Bilco when note became due. Bilco immediately notified Tamp and Miller of Vex's default. Which of the stmnts is correct?

A. Bilco will be unable to collect from Miller bcoz Miller's endoresement was in blank.

B. Bilco will be able to collect either from Miller or Tamp bcoz Bilco was Holder in due course.

C. Bilco will be able to collect from Tamp bcoz Tamp was the original payee.

D. Bilco will be unable to collect either from Tamp or Miller bcoz of Bilco's release of collateral.

I can't understand the question itself….can someone explain what is going on?…I have no idea how these negotiable instruments work…

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Author]

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