Capital Assets
Definition of "Capital assets"
(1) Any asset purchased for use in production over long periods of time rather than for resale. It includes land, buildings, plant, and timber reserves. (2) In taxation, property held by a taxpayer, except cash, inventoriable assets, merchandise held for sale, receivables, and certain intangibles. (3) Fixed assets usually consisting of tangible assets, such as plant and equipment, and intangible assets, such as a patent.
Popular Real Estate Terms
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Guarantee by a seller to a buyer to satisfy, for a specified time period, problems in the quality or performance of items within the home. There is usually no additional charge during the ...
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