Definitions of "basis"
  1. The foundation or underlying support upon which other elements, usually more elaborate, are built upon
  2. A fundamental rule or approach that's utilized as a primary guide or reference
  3. The initial worth of an asset used to calculate any changes in its value for taxation purposes
How to use "basis" in a sentence
  1. The law was established on the basis of protecting citizens' rights.
  2. The legal argument was built on the basis of past court precedents.
  3. The capital gains tax was calculated based on the original basis of the investment.

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