Residence

Domicile in Accounting
Domicile refers to the country or place of an individual's permanent home, influencing their civil status and tax liabilities. It is distinct from nationality and residence, encompassing both physical presence and an intention to remain.
Dwelling
A dwelling refers to a place of residence where individuals or families live, such as houses, apartments, and other structures intended for habitation.
Residence
In the context of taxation and real estate, a residence refers to a place where someone lives. It can be classified into various types including personal residence, principal residence, and qualified residence.

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.