Business Definition for: amortize
amortize
to write off a regular portion of an asset's cost over a fixed period of time. Examples are amortization expense on a limited life intangible asset and depletion expense on a natural resource.
See also
sales return
Related Terms:
merchandise given back to the seller because of defects. Sales returns reduce the seller's gross sales. Sales return is a contra revenue account.
Referring Terms:
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