[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]

Ok, I have to go grocery shopping and spend some time with my family. I will be back on tomorrow. Hope to do more quizzing! Good luck everyone!

[MommyBear]

Thanks Bucky!

Do you guys want to keep going? I can post more questions.

[WANNABE_CPA]

yes mommybear..i can do it sometime

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[taxman89]

why is this a REG questions??? this should barely be a BEC question

“The federal minimum wage as prescribed by the Fair Labor Standards Act (FLSA) after July 24, 2009, is:”

Aud-75 3x I knew i never liked you
Bec-77 1x being in the bubble is stressful
Reg-82 4x its not me its you...and no we cant be friends
Far-78 1x easiest section

[MommyBear]

19–Under the Secured Transaction Article of the U.C.C. (Article 9), which of the following remedies is available to a secured creditor when a debtor fails to make a payment when due?

Proceed against the collateral

Obtain a general judgment against the debtor

A.

Both I and II

B.

I only

C.

II only

D.

Neither I nor II

[Anonymous]

Thanks MommyBear. I will keep checking in. And I agree, Blaw is shockingly confusing. My focus has to shift to the SIMS of all things. My mistakes tend to be dumb ones. 🙂

[MommyBear]

I that is in REG because it deals with all those laws and what each is for with specifics. Some of them are crap questions, but I just think…well that's an easy one. I hope that is on my REG test.

[WANNABE_CPA]

@taxman, its from Employer- Employee Law..It is a part of Blaw

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[WANNABE_CPA]

19.A?

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[MommyBear]

Yep! Upon default by the debtor (i.e., failure to make a payment when due), a secured creditor has the right to obtain a general judgment against the debtor and also to proceed against the collateral via repossession.

[MommyBear]

20-The value requirement in determining whether a person is a holder in due course with respect to a check will not be satisfied by the taking of the check:

A.

as security for an obligation to the extent of the obligation.

B.

as payment for an antecedent debt.

C.

in exchange for another negotiable instrument.

D.

in exchange for a promise to perform services in the future.

[WANNABE_CPA]

20.D ?

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[MommyBear]

Yes maim! A holder in due course has accepted a negotiable instrument for value, in good faith, and without notice that the instrument is overdue or dishonored, has irregularities, or that any person has a defense against paying it.

A holder is considered to have taken a negotiable instrument for value by paying the agreed consideration of the contract for which the instrument was issued. A promise to do something in the future is sufficient for contractual consideration but not “for value” to determine a holder’s status as a holder in due course.

[MommyBear]

21–Under the Documents of Title Article of the U.C.C., which of the following correctly describes the standard of liability that must be established to hold a warehouser liable for loss or damage to stored property?

A.

Strict liability

B.

Ordinary negligence

C.

Gross negligence

D.

Deliberate destruction or theft

[WANNABE_CPA]

21.C ?

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[Author]

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