NACVA Certified Valuation Analysts Exam Practice Test

The analyst used __________ to quantify the value of intangible assets. The analyst estimated the current cost required for the company to recreate its current level of customer awareness, brand recognition and consumer loyalty.

All of the various tangible personal property valuation method and procedures can be grouped into the following approaches EXCEPT:

Which of he following factors is NOT considered, among others, when determining if quantitative adjustments to the sales comparison data are necessary?

The sales comparison approach is based on the economic principles of:

The normalized economic income is capitalized, typically, as an annuity in perpetuity. The capitalization rate used in this procedure should be:

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

Which of the following attribute should be there for an intangible asset to exist from an economic perspective?

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

Which of the following attribute should be there for an intangible asset to exist from an economic perspective?

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

Which of the following attribute should be there for an intangible asset to exist from an economic perspective?

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

Which of the following attribute should be there for an intangible asset to exist from an economic perspective?

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

The work-in-process inventory of a professional service firm is essentially the unbilled receivables of the firm. Therefore, the same net realizable value rules discussed with respect to accounts and notes receivable would apply to this asset as well. With regard to tangible merchandise inventory, there are some common valuation methods such as:

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

The work-in-process inventory of a professional service firm is essentially the unbilled receivables of the firm. Therefore, the same net realizable value rules discussed with respect to accounts and notes receivable would apply to this asset as well. With regard to tangible merchandise inventory, there are some common valuation methods such as:

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

The work-in-process inventory of a professional service firm is essentially the unbilled receivables of the firm. Therefore, the same net realizable value rules discussed with respect to accounts and notes receivable would apply to this asset as well. With regard to tangible merchandise inventory, there are some common valuation methods such as:

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

The work-in-process inventory of a professional service firm is essentially the unbilled receivables of the firm. Therefore, the same net realizable value rules discussed with respect to accounts and notes receivable would apply to this asset as well. With regard to tangible merchandise inventory, there are some common valuation methods such as:

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

The work-in-process inventory of a professional service firm is essentially the unbilled receivables of the firm. Therefore, the same net realizable value rules discussed with respect to accounts and notes receivable would apply to this asset as well. With regard to tangible merchandise inventory, there are some common valuation methods such as:

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

The work-in-process inventory of a professional service firm is essentially the unbilled receivables of the firm. Therefore, the same net realizable value rules discussed with respect to accounts and notes receivable would apply to this asset as well. With regard to tangible merchandise inventory, there are some common valuation methods such as:

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

The work-in-process inventory of a professional service firm is essentially the unbilled receivables of the firm. Therefore, the same net realizable value rules discussed with respect to accounts and notes receivable would apply to this asset as well. With regard to tangible merchandise inventory, there are some common valuation methods such as:

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

The work-in-process inventory of a professional service firm is essentially the unbilled receivables of the firm. Therefore, the same net realizable value rules discussed with respect to accounts and notes receivable would apply to this asset as well. With regard to tangible merchandise inventory, there are some common valuation methods such as:

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

The work-in-process inventory of a professional service firm is essentially the unbilled receivables of the firm. Therefore, the same net realizable value rules discussed with respect to accounts and notes receivable would apply to this asset as well. With regard to tangible merchandise inventory, there are some common valuation methods such as:

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

1. Direct capitalization

2. Yield capitalization

These above are the two categories of valuation methods under:

When using the elements of both the asset accumulation method and the capitalized earnings method in the same valuation, the analyst should pay particular attention to the selection of:

The determination of which asset-based method to use in a given valuation engagement should be a function of all of the following EXCEPT:

Most analysts agree that one of the most important factors in the estimation of the direct capitalization rate for the excess earnings is the perceived persistence of the excess earnings. The longer the time period and the greater the uncertainty of the expectation of excess earnings, the __________the direct capitalization rate.

Estate taxes become a problem only to the extent that:

In general, the use of life insurance can fulfill all of the following basic needs EXCEPT:

The work-in-process inventory of a professional service firm is essentially the unbilled receivables of the firm. Therefore, the same net realizable value rules discussed with respect to accounts and notes receivable would apply to this asset as well. With regard to tangible merchandise inventory, there are some common valuation methods such as:

The most appropriate application of the excess earnings method is for the purpose of:

(1) Partly because of its fairly wide dissemination (2) Partly because of its apparent simplistic nature, _______________ valuation method is widely adopted in one form or another for other valuation purposes, such as material dissolution.

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

If the funding of the forgoing requirements has been provided for through life insurance taken out in prior years that insurance should be reviewed as to both amount and type. The necessary amounts of insurance can change for several reasons. All of the following are those reasons EXCEPT:

Life insurance can serve as an important source of funding for stock purchase agreements pertaining to decreased shareholders. The advantages of using life insurance for the purpose are several. Which of the following is NOT out of such advantage?

If the seller is in a low tax bracket and the buyer in a high one, it may be advantageous to:

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.