What is Foreclosure? Foreclosure is the legal right of a mortgage holder or other third-party lien holder to gain ownership of the property and/or the right to sell the property and use the proceeds to pay off the mortgage if the mortgage or lien is in default. It is a concept that has existed for centuries.
Business expenditures can be divided into capital and revenue expenditures. Capital expenditures are expenditures that produce benefits across multiple time periods, such as the costs to acquire and make ready for use long-term assets.
depreciation expense. The income statement account which contains a portion of the cost of plant and equipment that is being matched to the time interval shown in the heading of the income statement. (There is no depreciation expense for land.)