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NACVA Accredited Valuation Analyst Exam Questions 101–105 (page: 22)

Updated On: 9-Feb-2026

Which one of the following is perhaps the most valuable source of authoritative information on a particular industry?

  1. Financial data
  2. Industry surveys
  3. Business press
  4. Trade associations

Answer(s): D



The advantages of searching online valuation information include all of the following EXCEPT:

  1. Faster and more efficient information retrieval than is usually possible in printed sources
  2. The ability to combine different facets of a subject in a single search statement
  3. To get maximum benefit from industry and economic research
  4. The ease of searching several databases in sequence to produce a comprehensive survey of the available literature

Answer(s): C



When there is a choice among accounting practices, private companies tend towards a more conservative selection in order to minimize taxes, while public companies may account more aggressively in order to report:

  1. More benefits
  2. More income so as to please shareholders
  3. Asset values
  4. Treatment of intangible assets

Answer(s): B



Which one of the following is/are example/s of normalizing adjustments?

  1. Adequacy of allowance and reserve accounts
  2. Non-depreciation methods and schedules
  3. Policies regarding capitalization or expensing of various costs (adjust to industry norms)
  4. Changes in capital structure

Answer(s): A,C



A control owner or potential owner might make control adjustments, but a minority owner, generally, could not force the same changes. Therefore, control adjustments normally would be made only in the case a controlling interest valuation, unless there was reason to believe that the changes were imminent and probable. These include all of the following EXCEPT:

  1. Excess or deficient compensation and perquisites
  2. Gains, losses or cash realization from sale of excess assets
  3. Discounted operations
  4. Elimination of operations involving company insiders (e.g. employment, non-marketrate leases)

Answer(s): C



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