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  1. Copilot Answer
    Excluded from the definition

    1. Any stocks in trade, consumable stores, or raw materials held for the purpose of business or profession have been … See more

    Specific common definitions

    • In financial economics, a distinction is made between capital and other assets. Capital refers to any asset used to make money as opposed to other assets used purely for personal enjoyment or consumptio… See more

    US tax definition versus broader economic definition

    In their textbook on the financial accounting, authors Clyde P. Stickney and Roman L. Weil advise that the term should be avoided except in tax accounting in the US private context, to counter its usage in other contexts va… See more

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