Examlex
Many states are either starting to or are in the process of expanding the types of services subject to sales tax.
Economic Life
The expected period during which an asset remains useful to the average owner.
Warranty
A guarantee provided by a manufacturer or seller regarding the condition of a product and a promise for repair or replacement within a certain period if necessary.
Implicit Rate
The interest rate implied or contained within a lease or financial transaction, often not explicitly stated.
Non-Cancelable Lease
A lease agreement that does not allow for unilateral termination by the lessee or lessor under specified conditions.
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