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.
On Human Work(Laborem Exercens) Written on the ninetieth anniversary of the very first social encyclical, Rerum Novarum, Pope John Paul II presents work as a fundamental dimension of human existence through which the person achieves fulfillment as a human being. He emphasizes the dignity of labor and notes that through work, the human person can share in the