For the following exchanges, indicate which qualify as like-kind property.
Definitions:
QBO
Refers to QuickBooks Online, an accounting software based in the cloud, aimed at assisting small to medium businesses.
Expenses
The costs incurred by a business or individual in the process of earning revenue.
Deposit in Transit
A sum of money transferred or sent to a bank account but not yet recorded in the account's available balance, often due to processing times.
Outstanding Check
A check that has been written by a company but has not yet been cashed or cleared by the bank.
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