Examlex
The court is establishing liability in a case in which several actions caused the plaintiff's injury. Which test of causation would be most useful in this case?
Trade or Business
An activity conducted for the purpose of earning income from selling goods or services, characterized by regularity and continuity.
Depreciation
The accounting process of allocating the cost of a tangible asset over its useful life, representing the decrease in value of the asset over time.
Section 1231
Refers to a tax provision in the United States that includes the tax treatment of gains and losses on the sale or exchange of real or depreciable property used in a trade or business and held for more than one year.
Ordinary Asset
An asset used in a business or trade which is subject to ordinary income tax rates rather than capital gains tax rates if sold or exchanged.
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