Question

What is meant by amortisation

Answer 1

Answer:

the action or process of gradually writing off the initial cost of an asset.

Answer 2

Answer:

Amortization is most commonly used for the gradual write-down of the cost of those intangible assets that have a specific useful life. Examples of intangible assets are patents, copyrights, taxi licenses, and trademarks. The concept also applies to such items as the discount on notes receivable and deferred charges.

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