[Stay_Positive]

I have found an error in the Wiley test bank for FAR. How do I report it to Wiley? Does anyone know?

BEC - 69, 66, 78 (exp), 82
FAR - 69, 72, 66, 76
REG - 64, 66, 72, 80
AUD - 77
Ethics - 95
Waiting on License to be issued!!!

[MCLKT]

Honestly, don't bother.

If you know the information and have a good understanding of the concept, continue with your studies.

Reporting the error, expecting a response, and an update to their page of “corrections” is a waste of energy.

We need to study, pass and get on with our lives.

They know about errors and continue to print them year after year. If they don't care, neither should you.

Now… if you still want to report something:

Email:

testbankfeedback@wiley.com

To see corrections:

https://wileycpa.custhelp.com/app/answers/detail/a_id/10715

A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*

[MCLKT]

I sent a question back on 2/24, No response.

The Jeff fwd'd it on…2/27

On 3/12 after sending another email asking what gives, they responded (below). However, if you check the corrected questions page. It hasn't been updated since September 2102. I'm not impressed.

Hi Katie,

Below is the author’s response to your question about DETX-0035.

“Instead of 2008, 2009, the problem should read 2009, 2010 and when the conversion occurred to using year1, 2, etc versus 2009, 2010, the conversion was incorrect because the original problem was incorrect. The 9000 2010 (should be year 2) single difference and already included in the cumulative temporary difference (year 2) of 20,000. Therefore, the DTL at the end of year 2 is 20,000*.4 = 8,000.”

A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*

[Stay_Positive]

k, thanks. I was pissed when I re-read the question…I was like…this doesn't make sense.

BEC - 69, 66, 78 (exp), 82
FAR - 69, 72, 66, 76
REG - 64, 66, 72, 80
AUD - 77
Ethics - 95
Waiting on License to be issued!!!

[Wiley CPA Exam Review]

MCLKT thanks for posting the links. I know it's a sore point for you. You can post questions in these forums to see if others agree with your analysis of a question — about 50% of reported question errors are validated as errors that need to be corrected … so about half are users not applying the right analysis to answer the question. That's something users of this forum can help with.

The https://wileycpa.custhelp.com/app/answers/detail/a_id/10715 update is overdue. Thanks for highlighting that.

[karldereta]

To add on to MCLKT's point, SAVE YOUR TIME AND ENERGY…

I had found maybe 10+ errors and sent them an e-mail on February 12th, they quickly responded like how they did above saying that 50% are validated as errors that need to be corrected, which is understandable. I asked them where I could find a list of corrected errors, it was a month till they responded, BUT ONLY with the link to the corrected answers. (which aren't updated by the way) I've been trying to e-mail and tweet at them only to receive a response saying they'll “follow up” with me. To this day, they never gave me any explanation, whether or not my errors were validated or not, nothing. Don't get me wrong, I LOVE the Wiley Book and Test Bank NO DOUBT, but don't bother submitting errors, you're better off posting the question on these forums and getting help from a fellow CPA candidate than Wiley's Test Bank support. Those minutes spent studying could be the tiny little difference you need on the exam…

[J]

Here's another glaring error for REG:

Which of the following is an advantage of forming a limited liability company (LLC) as opposed to a partnership?

A) The owner may participate in management while limiting personal liability.

B) The entity may avoid taxation.

C) The entity may make disproportionate allocations and distributions to members.

D) The entity may have any number of owners.

Correct answer given by Wiley is “A”, which is fine. However, “D” is ALSO correct. A partnership CANNOT have ANY number of owners, because if it only has one owner, IT IS NOT a partnership. Hence, that is also an advantage of an LLC. These things annoy me to no end.

[jeff]

Keep in mind that this question likely came from the AICPA and it's common for 2 answers to appear correct.

One answer is MORE correct. D is not an “advantage” of an LLC vs a partnership.

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[J]

I am well aware of the fact that answer “A” is more correct; however answer “D” is correct as well due to the semantics and definition of what constitutes a partnership. Perhaps I am being too picky but it is still irritating!

[jeff]

I understand it's irritating – but answer D is meant to confuse you. It's not a mess up by Wiley was my only point.

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Anonymous]

I am going out of my mind with the following question and don't know if I am missing something or Wiley is wrong. It may be that I have spent way too much time on deferred taxes and my brain is just fried:

As a result of differences between depreciation for financial reporting purposes and tax purposes, the financial reporting basis of Noor's depreciable asset, acquired in year 3, exceeded its tax basis by $250k at 12-31-x3. This difference will reverse in future years. The enacted tax rate is 30% for year 3 and 40% for future years. Noor has no other temporary differences. In its 12-31×3 B/S, how should Noor report the deferred tax effect of this difference?

Wiley's Answer: $100,000 liability

Why isn't this an asset?! If the book depr is more than tax depr, doesn't that mean book income is less than taxable income? And if I am paying more taxes NOW, doesn't that mean less later which makes an asset? Or am I just thinking of this bass ackwards?

Any help would be much appreciated!

[MCLKT]

camouflage – Sorry I don't have an answer for you. And you may want to to check with the FAR study group.

@Wileytestbank – this isn't a sore point for me. I am just discouraging others from bothering with reporting errors that won't be corrected.

If 50% of the reported errors are a misapplication of theory, then maybe the explanations for incorrect answers should be better explained? I know that would be an overwhelming task to endure. Perhaps Wiley could start with the questions that are erroneously reported as incorrect? Then, students would learn the tricks and how to look for them on test day. And Wiley could avoid the reputation of numerous errors that go uncorrected.

As for the other 50% that are in fact errors on Wiley's part. They are errors that are printed and reprinted year after year. I just don't know what to say about that, other than it's unacceptable.

And, you are welcome (for highlighting an update is long overdue). Yet here we are a month after pointing that out and CONFIRMED errors I reported for FAR back in FEBRUARY have still not been corrected. If my professional performance were that poor I would be unemployed, and rightfully so.

I'm not sore… just disappointed. You're better than this WileyTestBank. I just want you to reach your potential.

A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*

[Author]

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