Examlex
What are imports?
Capital Asset
An asset of any kind owned for investment or personal purposes, not usually sold in the course of business.
Household Furnishings
Items and accessories used for decorating and living in a home, such as furniture, rugs, and appliances.
Business Inventory
Items that are held for sale in the ordinary course of business, representing a current asset on a company's balance sheet.
Section 1231 Property
Business property that combines features of capital assets and depreciable property, potentially offering favorable tax treatment on gains.
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