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Cost of property
The cost of property is the sum of the price paid by the seller for the property plus all costs and expenses that can be reasonably attributed to the property under generally accepted accounting principles. However, in the case of oil and gas programs, the cost of drilling wells that are not commercial producers cannot be attributed to the property.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Financial services
- Category: Real estate investment
- Company:
- Product:
- Acronym-Abbreviation:
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