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Intangible Assets
Refers to non-physical assets that have value, such as patents, trademarks, goodwill, and copyrights.
Finite Life
Refers to assets or investments that have a defined time period over which they are expected to generate returns or be useful.
Amortize
The process of paying off a debt over time through regular payments, which can include portions of both principal and interest.
Tangible Assets
Physical assets that can be seen and touched, such as machinery, buildings, and inventory.
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