SharePoint 2010 Management Shell Issue "the local farm is not accessible cmdlets with feature dependency are not registered"

Issue:  When you launch a SharePoint 2010 Management Shell you receive one or both of the following errors:  “microsoft sharepoint is not supported with version 4.0.30319 of the microsoft .net runtime” “the local farm is not accessible cmdlets with feature dependency are not registered”  Diagnostics:  At the command prompt run the following commands: PS C:\…

2