Examlex
Which of the following is gray matter
Sold
The act of transferring ownership of an item or asset for money or value in exchange.
Basis
The amount of investment in an asset for tax purposes, used to calculate gain or loss on the asset's disposition.
Liability
An obligation or debt owed to another party, which can be a factor in personal and business finances.
Gain or Loss
The financial result from selling an asset for more (gain) or less (loss) than its purchase price, important for tax calculations related to capital gains and losses.