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A comprehensive review of key concepts in financial management for community associations, covering topics such as accounting methods, financial statements, budgeting, and debt collection. It includes multiple-choice questions and verified answers, making it a valuable resource for students and professionals seeking to understand the financial aspects of community association management.
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a. foreclosure b. personal mone ỵ judgement c. lien d. bad debt write off: c. lien
a special assessment c. maintaining a reserve acct equalizes the contributions of old and new owners d. maintaining a reserve account enhances resale values.: b. maintaining a reserve acct increases the likelihood that an assoc will require a special assessment