Examlex
What kinds of property do not qualify under the like-kind provisions?
Impairment
A decrease in the recoverable value of an asset to below its carrying amount on the balance sheet, leading to a written down value.
Share Capital
The funds raised by a company through the issuance of shares to investors.
Deferred Tax Liability
A tax obligation that a company owes but does not have to pay until a future date, usually resulting from differences in accounting methods for tax and financial reporting purposes.
Asset Revaluation
The upward or downward adjustment of the book value of an asset to properly reflect its current market value.
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