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CLFP EXAM - Financial and Tax Accounting for Leases
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14
May 2024
2023/2024
A+
Are "net leases" treated differently from tax perspective? - Some lessor believe that they
can delegate tax liability to the lessee via their lease agreement. Most government
agencies don't agree.
Describe a key element to understanding a balance sheet. - 1.) Assets - Liabilities =
Equity
2.) any increase or decrease on one side of the equation always creates a
corresponding entry on the other side of the equation
How can financial statements be used to manage? - 1.) Review stateme...
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