One of the important steps in preparing a valuation is preparing common size financial statements, financial ratios, and analyzing strengths, weaknesses, opportunities, and threats. What section of the process would this be analyzed? appraisal principles data gathering data analysis statistics analysis Question 25 (1 point) Listen Which of the following WOULD NOT be considered external information in the data gathering process? analysis of the economic data analysis of the industry data analysis of publicly traded guideline company data analysis of subject company financial information Question 22 (1 point) Listen Which of the following are factors to be considered in the valuation of a closely held business per Revenue Ruling 59- 602 nature of the business, history of the business, economic outlook, book value carning capacity, dividend paying capacity, whether the company has goodwill or intangible value 6 previous sales of subject company stock, market prices of stocks of corporations engaged in a similar line of business 39 all of the above One of the adjustments that is very often considered is a reasonable compensation adjustment. Which of the following statements is NOT correct? A reasonable compensation adjustment should be made on EVERY valuation assignment A minority shareholder will not be able to make a reasonable compensation adjustment Reasonable compensation adjustments are made because a majority shareholder pays him or herself too much or too little A business owner's reasonable compensation is a subjective analysis Question 20 (1 point) 4) Listen All of the following are potential adjustments made in preparing an income approach EXCEPT FOR: add back non-recurring items reasonable compensation adjustment add back personal expenses that the owner paid for with company funds a reasonable compensation adjustment made by a minority shareholder