NAC706.570. “Amortization” defined.

Latest version.

“Amortization” means the gradual extinguishment of an amount in an account by distributing such amount over a fixed period, over the life of the asset or liability to which it applies, or over the period during which the benefit is anticipated to be realized.

[Taxicab Auth., Uniform System of Accounts Reg. Definitions § 4, eff. 12-24-70]

                    
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