N.Y. Comp. Codes R. & Regs. Tit. 10 § 441.31 - Amortization
(a) The gradual
extinguishment of any amount over a period of time: as, the retirement of a
debt by serial payments to the creditor or into a sinking fund; the periodic
writedown of an insurance premium or a bond premium.
(b) A reduction of the book value of a fixed
asset; a generic term for the depreciation, depletion, writedown or writeoff of
a limited-life asset.
Notes
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