Key Terms Instructions: Please Define the Following Key Terms

question 41

Essay

Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Otto von Bismarck

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Definitions:

Aggregate

is the total amount or sum of individual parts combined.

Ordinary

Refers to income or transactions that are common or usual within the context of business and taxes.

Donee's Basis

The value assigned to a gift or inherited property for the purpose of determining gain or loss when the property is sold by the recipient.

FMV

The estimated sales price of an asset in the marketplace where both buyer and seller are informed and willing.