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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FLEXIBLE BUDGET is based upon different levels of activity. It is a very useful tool for comparing actual costs experienced to the cost allowable for the activity level achieved, i.e. it is dynamic in nature as compared to static. A series of budgets can be readily developed to fit any activity level. Flexible budgeting distinguishes between fixed and variable cost, thereby allowing for a budget that can be automatically adjusted to the level of activity actually attained.

SHAREHOLDER is an individual or company, (including corporations) that legally owns one or more shares of a company.

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