Define Runout

question 48

Short Answer

Define runout.

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Definitions:

Intangible Assets

Assets that lack physical substance but possess value, such as patents, trademarks, and goodwill.

Research And Development

The investigative activities a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.

Amortization

The process of spreading out a loan's payments over time, often relating to intangible assets as well.

Boot

A non-cash item given or received in a transaction to even out the value exchange, commonly used in the context of trade or real estate deals.