Examlex
Components of the first line of defense include all the following, except
Long-term Gain
The profit from the sale of an asset held for more than a year, subject to lower capital gains tax rates.
Investment Portfolio
A collection of assets including stocks, bonds, mutual funds, and other investments held by an individual or an institution.
Recognize
In an accounting context, to recognize is to formally record an item within the financial statements of an entity, acknowledging its existence or occurrence.
Short-term Capital Loss
A loss realized from the sale or exchange of a capital asset held for one year or less, which can be used to offset capital gains for tax purposes.
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