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T is an accountant who has been accused of professional incompetence T agreed to advise a client on currency management and the client lost a great deal of money when a large foreign currency trade receivable declined in value without having been hedged.
Which of the following factors strengthens the case that T has been incompetent?
Select ALL that apply
Suggested Answer: A, B, D
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39 comments · newest first
NA
Nancey
11 months ago
D shows T didn't take a strong stance, that's a red flag!
JA
Javier
11 months ago
E is surprising, how can you advise on something you've never done?
PE
Pete
12 months ago
C seems like a weak excuse, costs shouldn't outweigh risk!
SH
Shelia
12 months ago
B makes it clear others were hedging, T should have known better.
ER
Erick
1 year ago
A is definitely a factor, staying updated is crucial!
GR
Gretchen
1 year ago
I recall a practice question about experience. E might suggest incompetence, but it could also mean T was just inexperienced in that area.
EM
Emmett
1 year ago
I think C could weaken the case. If T had valid reasons for not hedging, it might show that he was acting in the client's best interest.
MA
Margot
1 year ago
I’m not sure about B. Just because others hedged doesn’t mean T was incompetent, right? It could depend on the specific situation.
GA
Garry
1 year ago
I remember discussing how staying updated with professional development is crucial for accountants. So, A seems like a strong factor for incompetence.
ME
Melvin
1 year ago
Hmm, this looks like it's testing our understanding of SMB traffic and potential security issues. I'll need to carefully analyze the Wireshark capture to determine what's going on.
MY
My
1 year ago
I can't recall the specifics about cifs.serverName—doesn't that usually work on both Windows and non-Windows servers?
GO
Goldie
1 year ago
Okay, this is a tough one. I'm a bit confused about the difference between the Consolidated Gaps, Solutions and Dependencies Matrix and the Solution Building Blocks approach. I think I'll need to review the TOGAF materials again to make sure I understand the nuances of each method. Once I've got that sorted, I should be able to put together a solid plan for the Transition Architectures.
GI
Giuseppe
1 year ago
Okay, let's see. A S.M.A.R.T. error is a predictive failure notice, so that seems like the most likely answer. But I want to double-check the other options just to be sure.
ER
Ernie
1 year ago
This question seems a bit tricky. I'll need to carefully read through the options and think about which one is the least accurate in a weakening economy.
LA
Lavera
1 year ago
I bet T's excuse was, 'I was too busy binge-watching The Office to keep up with my CPD. It's a classic!
LE
Lenna
1 year ago
C) T had studied all relevant economic forecasts and had concluded that it would be too expensive to hedge this receivable
LA
Lauran
1 year ago
B) Since the loss the client's chief executive has spoken to her business contacts in the industry and all had hedged against a decline in this currency
GL
Glenna
1 year ago
A) T had been too busy to stay up to date with continuing professional development requirements
CY
Cyril
2 years ago
E is the funniest one. It's like T was just winging it and said, 'Sure, I can help you with that. How hard can currency hedging be?' Spoiler alert: pretty darn hard.
RO
Ronna
1 year ago
E) T had never offered advice on foreign currency management before
RA
Raylene
1 year ago
D) T had offered the client two alternatives showing the costs and benefits of hedging the position, but did not strongly recommend either alternative
AL
Alica
1 year ago
C) T had studied all relevant economic forecasts and had concluded that it would be too expensive to hedge this receivable
CL
Clarence
1 year ago
B) Since the loss the client's chief executive has spoken to her business contacts in the industry and all had hedged against a decline in this currency
CA
Caprice
1 year ago
Yeah, E is definitely a red flag. T should have been more experienced in that area before taking on the client's request.
TA
Tamesha
1 year ago
E) T had never offered advice on foreign currency management before
RE
Renea
1 year ago
B) Since the loss the client's chief executive has spoken to her business contacts in the industry and all had hedged against a decline in this currency
HI
Hildred
1 year ago
A) T had been too busy to stay up to date with continuing professional development requirements
AN
Andrew
1 year ago
E) T had never offered advice on foreign currency management before
TA
Talia
1 year ago
A) T had been too busy to stay up to date with continuing professional development requirements
BE
Bernardine
2 years ago
I can't believe T had never handled foreign currency management before. That's like an accountant saying, 'I've never done taxes before.' Might as well just hand in a blank exam sheet.
AR
Armando
1 year ago
D) T had offered the client two alternatives showing the costs and benefits of hedging the position, but did not strongly recommend either alternative
SH
Sharee
1 year ago
C) T had studied all relevant economic forecasts and had concluded that it would be too expensive to hedge this receivable
AN
Annett
1 year ago
B) Since the loss the client's chief executive has spoken to her business contacts in the industry and all had hedged against a decline in this currency
RE
Reed
1 year ago
A) T had been too busy to stay up to date with continuing professional development requirements
ST
Stevie
2 years ago
Wow, T is really in hot water. Choosing C as the correct answer would be like saying, 'Yeah, I did a terrible job, but at least I was too cheap to hedge!' Not a great defense.
JU
Justine
2 years ago
I see both sides, but I think all factors should be considered before making a final judgment.
FL
Florencia
2 years ago
A, B, and D are clear signs of incompetence. T should have been on top of CPD, clearly communicated the risks, and made a strong recommendation to the client. Dropping the ball on all of these is just poor professionalism.
RO
Ronnie
2 years ago
I disagree, I believe factors C and E are more relevant in this situation.
BO
Bobbye
2 years ago
I think factors B and D strengthen the case against T.