Asbestos is found in rocks and soil. These mineral fibers have worked well for manufacturers for many reasons. For starters, theyâre flexible and resistant to heat, chemicals, and electricity. Thatâs why they were widely used for years to make construction materials, automotive parts, and even textiles.
A tax expenditure program is government spending through the tax code. Tax expenditures alter the horizontal and vertical equity of the basic tax system by allowing exemptions, deductions, or credits to select groups or specific activities.
Expenditures are categorized as capital or revenue expenditures is a question of degree and not of kind i.e. it is a case to case debate. In order to consider a cost incurred as a capital expenditure it does not necessarily has to pave a way to a separate and distinct asset. Not all the expenditures that provide future benefits over a longer period of time can be treated as capital expenditure and require careful examination of the situation.