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The major significance of Koch's work was that
Trade-In Allowance
The value credited to a customer when they exchange an older item towards the purchase of a new item, often used in automotive and electronics sales.
Intangible Assets
Non-physical assets having a value with an indefinite life span, such as patents, trademarks, and goodwill.
Amortized
Amortized refers to the gradual reduction of a debt over a period of time through regular payments that cover both the loan interest and the principal amount.
Natural Resources
Materials or substances occurring in nature which can be exploited for economic gain, such as minerals, forests, and water.
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