Question 1 :

While reviewing at Redfern Willow CPAs, Jordan Pike sees Lake Mercer Fitness LLC's Asset Detail Export ADX-88 list corporate office as situs, but Install Ticket 4471 dated January 5, 2026 places the tanning beds in Tulsa County. Which record should control?

AP vendor master remit-to address for the clinic purchase.

Prior-year county return for the same asset class.

Install Ticket 4471 showing physical delivery to Tulsa County.

Insurance binder listing the corporate office location.

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Question 2 :

At Westinghouse Air Brake Technologies Corporation, a senior at Crowe LLP finds that the opening balance, additions, disposals, and ending balance all tie, but the disposal report contains two assets with retirement dates in 2024 that were also removed in last year's approved file. What is the primary concern?

There is no issue because the current-year rollforward still balances.

The disposal activity may be duplicative because assets already removed in the prior year appear to have been removed again.

The issue is limited to formatting because the same asset can appear in multiple years' disposal logs.

It should be deferred to protest strategy because prior-year history is no longer relevant.

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Question 3 :

The fixed asset export for Northfield Auto Spa LLC lists "POS kiosks with anchored pedestals" in leasehold improvements. Reviewing the invoice photos on January 5, 2026, Marcus Long of River Birch Tax Advisors sees removable touchscreen units bolted to separate metal bases; which treatment is strongest?

Keep the full package in leasehold improvements because the pedestals are anchored.

Move the full package to furniture because customers stand in front of the kiosks.

Split the package between computer equipment for the touchscreen units and furniture or similar movable support for the bases if separately supported.

Move the full package to machinery because the kiosks are part of the wash process.

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Question 4 :

While reviewing a draft asset mapping, the reviewer notices that $58,000 was moved from one reported category to another through a manual reclass note, but no supporting schedule explains which assets were moved. What is the best conclusion?

Keep the reclass because the total personal property balance is unchanged

Accept the reclass if the preparer says it matches how the client views the assets

Leave the draft as is and document that classification is judgmental

The reclass should be supported at the asset or schedule level before it is used in the rendition

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Question 5 :

Grace Perry at Flint Arrow CPAs reviews Redwood Alloy Works LLC's incentive approval. It covers machinery used in a designated recycling process, but the filing also includes forklifts, office furniture, and maintenance tools. What is the best conclusion?

Accept the broader claim because all assets support recycling operations indirectly

Accept the claim if the client confirms the assets were purchased as part of the project budget

Reject the entire incentive because some unsupported assets were included

Limit the claim to the asset categories clearly covered by the approval unless broader support exists

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Property Tax

While reviewing at Redfern Willow CPAs, Jordan Pike sees Lake Mercer Fitness LLC's Asset Detail Export ADX-88 list corporate office as situs, but Install Ticket 4471 dated January 5, 2026 places the tanning beds in Tulsa County. Which record should control?

MCQ

0

5

MCQ

0

5

MCQ

0

5

While reviewing a draft asset mapping, the reviewer notices that $58,000 was moved from one reported category to another through a manual reclass note, but no supporting schedule explains which assets were moved. What is the best conclusion?

MCQ

0

5

Grace Perry at Flint Arrow CPAs reviews Redwood Alloy Works LLC's incentive approval. It covers machinery used in a designated recycling process, but the filing also includes forklifts, office furniture, and maintenance tools. What is the best conclusion?

MCQ

0

5