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.
Old English gast soul, spirit, life, breath; good or bad spirit, angel, demon, from Proto-Germanic *ghoizdoz (cf. Old Saxon gest, Old Frisian jest, Middle Dutch gheest, Dutch geest, German Geist spirit, ghost), from PIE root *gheis-to be excited, amazed, frightened (cf. Sanskrit hedah wrath; Avestan zaesha-horrible, frightful; Gothic usgaisjan, Old English gÃ¦stan to frighten).