CLFP-CLASS REVIEW STUDY GUIDE ACTUAL EXAM TEST BANK 200 QUESTIONS AND CORRECT DETAILED ANSWERS WITH EXPLANATIONS| ALREADY GRADED A+
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Course
CLFP
Institution
CLFP
CLFP-CLASS REVIEW STUDY GUIDE ACTUAL
EXAM TEST BANK 200 QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
EXPLANATIONS| ALREADY GRADED A+
Why Equipment Financing is Popular - Answer-1.
Psychology of use preference over ownership
2. Obsolescence and inflation hedge
3. Affordability to lessee
4...
Equipment lease definition - Answer-A transaction in
which use and possession but not title to tangible
property is transferred for consideration
Closed end lease - Answer-A lease wherein the
lessee has no purchase or renewal rights and
therefore must return the equipment to the lessor at
the termination of the lease. No option to buy.
, Master lease - Answer-A form of documentation that
includes one document, which outlines all of the
basic terms and conditions of the lease agreement
and then separate schedules referring back to the
main document
At risk rules - Answer-Those provisions in the
Internal Revenue Code, which require that a party
seeking to claim certain benefits under the tax code,
such as interest deduction and depreciation must be
"at risk" for certain, specified amounts in a
relationship to such desired tax benefits
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