UCC-1 Financing Statement Form and How It Works
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UCC-1 Financing Statement Form and How It Works
UCC-1 Financing Statement and how it secures personal property and protects assets from lawsuits. How lenders and creditors use them.
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When there is a disposition of a depreciable property, an amount will be deducted from the UCC balance in the relevant CCA class. The deduction will be equal to the lesser of:a. The undepreciated capital cost and the proceeds of disposition.b. None of the choices.c. Proceeds of disposition and the capital cost of the individual asset.d. The capital cost of the individual asset and the undepreciated capital cost.
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When there is a disposition of a depreciable property, an amount will be deducted from the UCC balance in the relevant CCA class. The deduction will be equal to the lesser of:a. The undepreciated capital cost and the proceeds of disposition.b. None of the choices.c. Proceeds of disposition and the capital cost of the individual asset.d. The capital cost of the individual asset and the undepreciated capital cost.
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