[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

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

[Anonymous]

It's A – This choice is best, because use of estimates need not be disclosed in most circumstances, including this one. I got that one wrong too.

[Anonymous]

@zubairs – you test soon, right? Anything you want to work on?

[CPAfit]

The score release madness is clouding my judgement 😛

[Anonymous]

That's right! I forgot you were waiting for a score AND studying. I hope they post them soon!

[MommyBear]

I think Zubairs tests on the 30th, right?

[CPAfit]

I'm testing on 11/30 and anything from tax and ethics will work for me. I still haven't done any blaw yet so can't do that at the moment.

[MommyBear]

3–Under Regulation D of the Securities Act of 1933, which of the following conditions apply to private placement offerings?

A.The securities cannot be sold for longer than a 6-month period.

B.The securities cannot be the subject of an immediate unregistered reoffering to the public.

C.The securities must be sold to accredited institutional investors.

D.The securities must be sold to fewer than 20 nonaccredited investors.

[Anonymous]

@MommyBear – how long should I set aside for SIMS during the test? I set aside 2 hours for FAR and had enough time, but this test is only 3 hours long. I don't know if I could get through the MCQ in 1 hour.

[MommyBear]

1.5 hours for sure. Don't forget that there are only 72 MCQ for REG so if you average 1 minute or less per question you should be good to go.

[CPAfit]

@mommy C

[Anonymous]

@MommyBear – B or C, so I choose C

And, thank you for the advice!

[MommyBear]

I picked C too, but it's B

Rule 506 of Regulation D permits the issuance of unregistered securities by private placement. However, the securities issued under this regulation are considered “restricted,” meaning that they are for personal investment only and generally cannot be resold to the public without registration.

[Anonymous]

4 – Kaitlin owns a computer that she uses for business, investment, and personal use, as follows:

Personal use. 25%

Investment use. 30%

Business use. 45%

Will Kaitlin's use qualify her to use accelerated or straight-line depreciation, and what percentage of the asset's basis qualifies to be depreciated?

A. Straight-line, 45%.

B. Accelerated, 45%.

C. Straight-line, 75%.

D. Accelerated, 75%.

[CPAfit]

RTMFQ & RTMFA! I'm losing it

[CPAfit]

@bucky A

[Author]

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