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ASPE revenue recognition tests
ASPE and IFRS have similar criteria to assess whether a lease is an operating lease or a financing lease for lessors, with ASPE having two additional revenue-recognition-based tests that must be passed. What are they?
Evict a Tenant
The legal process by which a landlord removes a tenant from rental property, typically for violating lease terms or for non-payment of rent.
Unpaid Rent
This is the amount of money that a tenant owes to a landlord for the occupation of rental property and has not yet paid.
Illegal Eviction
The act of unlawfully forcing a tenant to leave their rental property without proper legal procedure or cause.
Self Help
Taking action to address a problem or situation by oneself without relying on external assistance.
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