[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

[WANNABE_CPA]

Thanks Mommybear…i am feeling better now 🙂

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

[taxman89]

C but am confused as to how C and D are different

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]

These exams are all about the emotional ups and downs. Doubting yourself for a bad quiz grade and then being uplifting again . It's a vicious damn cycle.

[WANNABE_CPA]

25.C?

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

[WANNABE_CPA]

I know, we ll be masters of lifting ourselves up after this CPA journey is done

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

[MommyBear]

It is C! I don't really understand how they are different, except that he can't accept the goods anywhere but the warehouse because of the FOB-Parco's warehouse wording

Risk of loss for the appliances will pass to Parco when they are tendered at Parco's warehouse. The contract specified “FOB—Parco's warehouse.” Parco is the buyer in this transaction. FOB means Free on Board. Parco's warehouse makes this a destination contract. When the goods are delivered to Parco's warehouse, then Parco becomes liable for their loss or damage

[MommyBear]

26–Under the Negotiable Instruments Article of the U.C.C. (Article 3), when an instrument is indorsed “Pay to John Doe” and signed “Faye Smith,” which of the following statements is correct?

Payment of the instrument is guaranteed.

The instrument can be further negotiated.

Both

1 only

2 only

neither

[taxman89]

“I know, we ll be masters of lifting ourselves up after this CPA journey is done” or masters of beating ourselves up lol

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

[taxman89]

pretty sure 2 is right so i am going with A lol

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]

We'll definitely be masters of something. 🙂

[WANNABE_CPA]

i think there are two types of FOB…when they say warehouse it should be at the warehouse and not just delivered to the buyer..I will have to check but i remember ding such questions and thinking warehouse when asked specifically…pick the warehouse answer

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

[MommyBear]

I think that question sucks. I know for a fact that if I cut a check to a vendor and someone else endorse's it I can file a fraud claim for “fraudulent endorsement” and we can get our money back so how the heck does that translate to being able to still guarantee the payment???

A is right–both

With the indorsement of “Pay to John Doe” and signed “Faye Smith” the instrument becomes order paper. John Doe must indorse the check for it to become negotiable. The word “guaranteed” used in the first part of the answers is a bit strong, but clearly the maker is liable for payment and any unrestricted indorsers are secondarily liable.

[WANNABE_CPA]

26.A?

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

[taxman89]

adding in a Q of my own real quick lol

Wages paid for domestic services are subject to special rules for determining whether they are subject to payroll taxes. When are domestic wages subject to Social Security and Medicare tax?

A.

Over $1,800 to one employee in a year

B.

Over $2,000 total wages in a year

C.

Over $1,000 total wages in a quarter

D.

Only if requested by employee

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

[WANNABE_CPA]

No clue Taxman..what is the answer

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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