EXTINGUISHMENT OF DEBT Definition

Bookmark and Share

EXTINGUISHMENT OF DEBT is the debtors satisfaction of the obligation to a creditor, either legally or in-substance. A debt shall be accounted for as having been extinguished in a number of circumstances, including when it has been settled through repayment or replacement by another liability.

Learn new Accounting Terms

MANAGEMENT INFORMATION SYSTEM (MIS) is a well-developed data management system that provides uniform organizational information from all areas of the entity within a database. Information within the database is manipulated to help management reach accurate and rapid organizational decisions.

S as the fifth letter of a Nasdaq stock symbol indicates that the issue has beneficial interest.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.