Capital expenditure

Definition - Noun
: an amount paid out that creates a long-term benefit (as one lasting beyond the taxable year)
esp
: costs that are incurred in the acquisition or improvement of property (as capital assets) or that are otherwise chargeable to a capital account
Capital expenditures are not deductible for income tax purposes. They are generally added to the property's basis.



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Based on Merriam-Webster's Dictionary of Law ©2001.
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intrinsic fraud

fraud (as by the use of false or forged documents, false claims, or perjured testimony) that deceives the trier of fact and results in a judgment in favor of the party perpetrating the fraud


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