Examlex
Section 121 (exclusion of gain on sale of principal residence)applies only to gains and does not cover losses.
Net Cash
The amount of cash available after accounting for cash inflows and outflows over a period.
Depreciation Expense
The allocation of the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.
Accounts Receivable
Amounts owed to a company by customers for goods or services that have been delivered or used but not yet paid for.
Prepaid Expenses
Expenses paid in advance for goods or services, which are recognized as assets until they are consumed or the term of use expires.
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