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CLFP Bundled Exams with Complete Solution | Verified Answers | 2024 $30.49   Add to cart
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CLFP Bundled Exams with Complete Solution | Verified Answers | 2024

CLFP Bundled Exams with Complete Solution | Verified Answers | 2024

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CLFP EXAM - Financial and Tax Accounting for Leases | 100% Correct Answers | Verified | Latest 2024 Version

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What is a primary goal of the accounting profession? - Consistent treatment of like transactions to allow clarity in presentation and consistency in interpretation of financial statements prepared by various individuals or entities. How did APB (Accounting Principals Board) fail? - Created Opinio...

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CLFP EXAM - Equipment Lease and Financing Documentation | 100% Correct Answers | Verified | Latest 2024 Version

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What is a Lease a document? - A lease is a basic document by which a lessor agrees to provide equipment or other personal property or rights to a lessees in return for rental payments. What are Lease Exhibits document? - Also referred to a "schedules" are used if the description of lease proper...

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CLFP EXAM - Classification & Terminology in Leasing | 100% Correct Answers | Verified | Latest 2024 Version

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Helps avoid tax abuse by defining what is not a lease for tax purposes. - What is significant about IRS Revenue Ruling 55-540? Per IRS Revenue Ruling 55-540, what are the rules that if present prevent a transaction from being a lease for tax purposes? - 1). Any portion of the periodic payment i...

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CLFP EXAM - Leasing Law | 100% Correct Answers | Verified | Latest 2024 Version

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What is Statutory Law? - Includes law enacted by legislative bodies such as state legislatures and US Congress. The Uniform Commercial Code or "UCC" is a body of the state statutory law. What is Regulatory Law? - Consists of regulations adopted by public bodies. Examples of regulatory law are r...

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