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A marketing class of 50 students evaluated the instructor using the following scale: superior, good, average, poor, and inferior. The descriptive summary showed the following survey results: 42% superior, 28% good, 25% average, 5% poor, and 0% inferior.
Amortization
The gradual reduction of a debt or the spreading out of the cost of an intangible asset over its useful life.
Discount
A reduction from the usual cost of something, often applied to encourage sales or offered to certain groups.
Bonds Payable
Long-term liabilities represented by negotiable certificates, indicating a promise to pay a specified sum of money plus interest at defined intervals.
Straight-line
A method of calculating depreciation of an asset where the expense is evenly distributed over its useful life.
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