Fill in the correct labels for the following figure using the word bank below.
-A __________
Definitions:
Owned
Having possession or legal right over something.
Installment Method
A method used in taxation allowing the recognition of income over a period of years when payment from a sale of property is received in installments.
Section 179 Deduction
A tax deduction that allows businesses to deduct the full purchase price of qualifying assets financed during the tax year.
Contract Price
The total monetary amount agreed upon by the parties involved in a contract for the exchange of goods, services, or property.
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