Examlex
The basis of property acquired in a wash sale is its cost plus the loss not recognized on the wash sale.
Uncollectible Accounts
Also known as bad debts, these are receivables that a business is unable to collect, often leading to their write-off as an expense.
IFRS
International Financial Reporting Standards, a set of accounting principles that dictate how companies' financial statements are prepared.
Initial Franchise Fee
A one-time payment made by a franchisee to the franchisor when a new franchise agreement is signed, covering rights to use trademarks, systems, and support.
Substantial Performance
A legal principle indicating that a party has fulfilled enough of its contract obligations to warrant payment, despite minor issues.
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