Clfp Study guides, Class notes & Summaries
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CLFP EXAM - Financial and Tax Accounting for Leases Latest Exam Guide 2024....
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CLFP EXAM - Financial and Tax Accounting for Leases Latest
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CLFP - CLASS REVIEW STUDY 2024 LATEST QUESTIONS WELL ANSWERED WITH A GUARANTEED PASS!
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CLFP - CLASS REVIEW STUDY 2024 LATEST QUESTIONS WELL ANSWERED WITH A GUARANTEED PASS!
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CLFP-CLASS REVIEW STUDY GUIDE 2023-2024 ACTUAL EXAM TEST BANK 200 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES|AGRADE
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CLFP-CLASS REVIEW STUDY GUIDE 2023-2024 ACTUAL EXAM TEST BANK 200 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES|AGRADE
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CLFP EXAM - Financial and Tax Accounting for Leases Latest
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CLFP EXAM - Financial and Tax Accounting for Leases Latest
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CLFP - CLASS REVIEW STUDY QUESTIONS WELL ANSWERED WITH A GUARANTEED PASS!
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When should lessor register as foreign corp? 
Within a state ... 
Good - stock of them 
Services offered 
Inspection or repair of property 
Office/employees 
Negotiated contracts 
 
 
What is dode of Hammurabi? 
- 1750 BC 
- Acknowledges leasing of personal property in his code of laws 
- First record of leasing law 
 
 
 
 
 
 
01:05 
01:36 
Early examples of true lease? 
- Phoenicians shipping experts 
- charters covered economic life of ships 
- lessee to assume benefits and obligations of ow...
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CLFP EXAM - History & Purpose of Leasing Exam with 100% Correct Answers 2023
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CLFP EXAM - History & Purpose of 
Leasing 
Currently how big is the leasing industry? - Correct answer-American companies 
acquire $1 billion in equipment each year of which 55% is leased. 
What % of companies lease? - Correct answer-8 of 10 
How old is leasing? - Correct answer-4000 years ago the Sumerians produced leases 
on clay tablets for ag tools, water rights and animals. The Code of Hammurabi is an 
ancient record of Babylonian dating back to 1700 bc 
What is the Statue of Whales? - Corr...
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CLFP-Terms Exam with 100% Correct Answers 2023
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Equipment Lease - Correct answer-A transaction in which use and posession but not 
title to tangible property, is transfered for consideration. 
Section 38 Property - Correct answer-IRS (tax) defines personal property that can be 
leased as depreciable property. 
Third Party Leasing - Correct answer-Unrelated Maufacturer, Dealer or Broker, the 
independent lessor and the lessee. 
Balance sheet 
(Op Lease) - Correct answer-Includes 
Assets 
C ash 
A sset 
T otal assets 
Liabilities 
S ecurity dep...
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CLFP Exam Questions and Answers Latest Update 2024-2025 | Scored A+
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CLFP Exam Questions and Answers Latest Update | Scored A+. Oldest Record of Leasing correct answer2010 B.C. in Sumerian City of Ur using Clay tablets for ag tools, 
land & Water rights, oxen and other animals 
Code of Hammurabi correct answer1750 BC, acknowledged leasing of Personal Property. First Record of 
Leasing 
First Example of A True Lease correct answerShip Charters. Phoenicians leased the ship and crew 
requiring them to assume benefits and obligations of ownership 
Statue of Wales co...
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CLFP EXAM - Financial and Tax Accounting for Leases
- Exam (elaborations) • 15 pages • 2024
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CLFP EXAM - Financial and Tax Accounting for Leases 
What is a primary goal of the accounting profession? - Answer- 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? - Answer- Created Opinion #5 (Reporting of Leases in Financial Statements of Lessees) and Opinion #7 (Accounting for Leases in Financial Statements for Les...
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CLFP EXAM - Financial and Tax Accounting for Leases Latest Exam -with 100% verified solutions 2024-2025-tutor verified
- Exam (elaborations) • 28 pages • 2024
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CLFP EXAM - Financial and Tax Accounting for Leases Latest Exam -with 100% verified solutions -tutor verified