[Anonymous]

For anyone who’s interested or is taking BEC soon and wants to practice. We did this in the Q2 FAR group and it was really helpful, especially for memorizing formulas, which as we all know, BEC is heavy with. Answer or ask your own question! Just be sure to come back on here and let the person who answered know if they were right or wrong 🙂

I’ll start it off:

What is the formula to calculate Marginal Propensity to Consume (MPC)?

[M.O.D.]

Expenditures:

GDP = consumer spending + business investment + govt spending + exports – imports

Income approach:

salaries and wages

rents

interest

proprietor, partnership income

corporate profits

= National income

Indirect business taxes (sales, excise)

net foreign factor income (income in US by foreigners – income abroad by the US)

= net domestic product

Capital consumption allowance (depreciation of capital)

= GDP

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[M.O.D.]

What is elasticity of demand, and its relationship to increasing revenue?

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[Anonymous]

Income approach

Sole Proprietor Income

+Corp Income

+Employee Salaries

+Passive Income

---

National Income

+Taxes

---

Net National Income

+ Consumption of fixed capital (depreciation)

---

Gross National Product

+/- adjustments to foreign income

---

Gross Domestic Product

[Anonymous]

Price elasticity of demand is % change in demand divided by % change in price. Elastic goods are greater than 1. An example would be luxury goods. Elastic goods-if price increases revenue decreases and vice versa. Inelastic goods are less than 1. An example would be necessities. If price increases revenue increases and vice versa.

[Anonymous]

What is the cost of not taking a trade discount?

[Anonymous]

[360/payment period-discount period] x [discount percent/100%-discount percent]

[Anonymous]

How do you calculate the rate of inflation?

[M.O.D.]

Hey Casa, did you not already take BEC? Are you still studying?

discount percent / (1-discount percent) x days in year/(days between discount period and due date)

example

2% 10, N 30

2/98 x 360/20 days = 36.7%

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[M.O.D.]

inflation rate = (CPI (consumer price index) – prior year CPI) / prior year CPI

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[Anonymous]

Lmao…yeah…I know I'm crazy..:: just don't want to forget everything..never know how things are going to turn out….plus this is my last test…..still listening to Ninja Audio as well.

[Anonymous]

Feel free to kick me out 😉

[Anonymous]

What are the 4 types of unemployment and which one is related to the state of the economy?

[Anonymous]

Cyclical, frictional, structural and ???? Cyclical is related to the economy.

[Anonymous]

Yep, the last one is Seasonal 🙂

[M.O.D.]

@ casa, you are welcome to study. If you master this you can go for the CMA.

3 months until a BEC retake is a long time. Might as well use it productively.

What are IT application controls. Name and describe 5.

BA Mathematics, UC Berkeley
Certificates in CPA and EA preparation, College of San Mateo
CMA I 420, II 470
FAR 91, AUD Feb 2015 (Gleim self-study)

[Author]

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