NACVA Exam CVA Topic 5 Question 97 Discussion

Actual exam question for NACVA's CVA exam

Question #: 97
Topic #: 5

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

AThe work-in-process inventory of a professional services firm

BThe merchandise inventory of a manufacturer/processor or of a wholesale/retail company

CFinal valuation reconciliation

DFinancial asset account categories

Show Suggested Answer

Suggested Answer: C, D

by Delsie at Sep 16, 2024, 08:09 PM

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Shay

3 months ago

This question is tricky, but I reckon D. Financial asset account categories is the odd one out here. Gotta think outside the box on these!

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Isadora

2 months ago

Definitely, D doesn't really fit with the rest of the approaches mentioned.

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Sherron

2 months ago

Yeah, I agree. The other options all relate to tangible personal property valuation methods.

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Odette

2 months ago

I think you're right, D seems like the odd one out.

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Mitsue

3 months ago

Haha, the work-in-process inventory of a professional services firm? That's a weird one! I'm gonna go with B. The merchandise inventory of a manufacturer/processor or of a wholesale/retail company.

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Jacquelyne

3 months ago

I'm not sure about this one. I think I'll choose C. Final valuation reconciliation.

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Anna

3 months ago

I agree, that does sound strange. I think I'll go with D. Financial asset account categories.

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Denna

3 months ago

Hmm, I'm not too familiar with these types of valuation methods, but I think C. Final valuation reconciliation doesn't quite fit the criteria.

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Isadora

2 months ago

Actually, D is a valid approach. The odd one out is A. The work-in-process inventory of a professional services firm.

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Annalee

2 months ago

I would go with D. Financial asset account categories as the one that doesn't belong.

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Malinda

2 months ago

I agree, it doesn't seem to fit with the other tangible personal property valuation methods.

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Yuki

2 months ago

I think C. Final valuation reconciliation is not one of the approaches.

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Carole

3 months ago

Hmm, I see your point. But I still think it's A) The work-in-process inventory of a professional services firm.

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Howard

3 months ago

I disagree, I believe the answer is D) Financial asset account categories.

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Tish

3 months ago

I'm pretty sure the correct answer is D. Financial asset account categories don't really fall under the personal property valuation approaches.

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Matthew

3 months ago

That makes sense, it's more about physical inventory and valuation reconciliation.

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Matthew

3 months ago

I agree, D) Financial asset account categories doesn't fit with the other tangible personal property valuation methods.

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Carole

4 months ago

I think the answer is A) The work-in-process inventory of a professional services firm.

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