NAC706.401908. “Amortization” defined.

Latest version.

“Amortization” means the gradual extinguishment of an amount in an account by distributing the amount over:

     1. A fixed period;

     2. The life of the asset or liability to which it applies; or

     3. The period during which a benefit is anticipated to be realized.

(Added to NAC by Transportation Serv. Auth. by R040-02, eff. 9-20-2002)

                    
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