Property Disposal

Involuntary Exchange
Involuntary exchange occurs when property is destroyed, stolen, condemned, or disposed of under the threat of condemnation, and the owner receives money or other property as compensation.
Will
A document that dictates how a person's property is to be distributed after their death. It must meet certain legal requirements to be valid.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.