Definition of "Gain"

Huy Pham real estate agent
Huy Pham, Real Estate Agent Keller Williams Realty Northwest Louisiana

Excess of money or fair value of property received on sale or exchange over the carrying value of the property. An example is the sale of a building when the cash received exceeda its book value. Gains also occur when the cash payment to eliminate a mortgage is less than the carrying value.

 

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