AMORTIZATION EXPENSE Definition

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AMORTIZATION EXPENSE is the allocation to expenses of the cost of an intangible asset such as goodwill, a patent, bond issue costs, etc.

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DISPOSABLE INCOME is the amount of an individuals income left after taxes which is available for spending and / or savings. See DISCRETIONARY INCOME.

LETTER OF GUARANTEE is a written promise issued by a bank to compensate (pay a sum of money) to the beneficiary (third party, local or foreign) in the event that the obligor (customer) fails to honor its obligations in accordance with the terms and conditions of the guarantee/agreement/contract.

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