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Velocity publishes regular model answers to practice questions to help you revise.
This question and answer is for P7.
To answer it, you first need to read the article Financial accounting and tax principles (PDF 202KB) in the Study Notes section of September 2008 Financial Management.
This article was written by Sally Vernon, education team specialist for P7 at training college BPP.
Question
This question about leasing appeared in the May 2007 exam.
You can download the full PDF of the question and model answer here (PDF 20KB).
Email your comments or suggestions about this article to velocity@cimaglobal.com.
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