For example, if your company spends $18,000 on the new vehicle, the company would be required to recognize $2,000 of âgain,â the difference between the insurance recovery and the cost of the replacement vehicle. That is a savings of $3,000 in taxable income.
Definition of RAREFACTION. 1. : the action or process of rarefying. 2. : the quality or state of being rarefied. 3. : a state or region of minimum pressure in a medium traversed by compressional waves (as sound waves). â rarÂ·eÂ·facÂ·tionÂ·al \-shnÉl, -shÉ-nÉl\ adjective. See rarefaction defined for kids. ADVERTISEMENT.
Use the adjective rarefied to describe things that are so stylish, smart, or moral that they seem elevated above the ordinary, like the rarefied conversation of brilliant scholars. To correctly pronounce rarefied, accent the first syllable: RARE-uh-fied.. In addition to high-minded conversation, the word rarefied can also describe the air in high elevations that has less oxygen, like the rarefied air that can be challenging to mountain climbers.