Examlex
Why is it generally undesirable to pass property by death when its fair market value is less than basis?
Chart Of Accounts
A systematic list of all ledger account titles and numbers used by a company, detailing every type of transaction that can be made.
Listed
Refers to securities that have been admitted to trading on a formal exchange, ensuring they meet certain criteria and standards.
Debit Balance
A balance occurring when the sum of debits in an account exceeds the sum of credits.
Credits
Accounting entries that can either decrease assets or increase liabilities and equity on a company's balance sheet.
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