CRPC exam 2023/2024 with 100% correct answers

Statment of Financial Position - correct answer Assets and Liabilities Net Worth Balances "balance sheet" Cash Flow Statment - correct answer Inflows and Outflows Payments Assets - correct answer cash and equivilants, stock, use assets, things clients own **even if not completly paid for. Should be valued at fair market value. **leased property and equipment are not typically included and may be shown in footnotes Liabilities - correct answer credit cards, bank loans, mortgages, divided between short term and long term Long generally on statment of financial position Short generally on cash flow statement Benefits/Negatives as Real Estate as an Investment - correct answer pro: tax benefits, inflation hedge, leverag