ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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PAYDOWN is the systematic reduction in principal of a mortgage- or asset-backed security resulting in a series of principal payments, either scheduled or unscheduled.
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ADMITTED VALUE see ADMITTED ASSETS.
NONCURRENT LIABILITIES are liabilities that represent money the entity owes one year or more in the future. There are many line items in this category, the most important one being long-term debt.