The prepayment must be for the purchase of feed, not just a deposit. The prepayment must be for a business purpose, not just to reduce tax liability. The deduction resulting from the prepayment must not materially distort income. Rent or lease payments for equipment and buildings are deductible farm expenses.
Work in process, work in progress, (WIP) goods in process, or in-process inventory are a company's partially finished goods waiting for completion and eventual sale or the value of these items. These items are either just being fabricated or waiting for further processing in a queue or a buffer storage.
Best Answer: Report in Progress Grade (RP) The RP symbol is used when assigning grades for courses that extend beyond one academic term. It indicates that work is in progress and is satisfactory to date, but assignment of a final grade must await completion of additional work. Work is to be completed within a stipulated time period not to exceed one year except for graduate thesis (799A) or dissertation (899). The unit value of the course does not affect term, campus or overall unit totals or your grade point average.