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Chemical Engineering Basics

Q1: 'Amortization' in respect of financial obligation of a company means the

A liquidation of financial obligations on instalment basis.

B commitment of financial obligation on priority.

C liquidation of all the obsolete equipments of the company.

D modernisation of the plant equipments.

ANS:A - liquidation of financial obligations on instalment basis.

'Amortization' in respect of financial obligation of a company means the liquidation of financial obligations on instalment basis. In financial terms, amortization refers to the process of gradually paying off a debt or financial obligation over a period of time, typically through regular payments or instalments. These payments cover both the principal amount borrowed or owed, as well as any accrued interest. Therefore, the correct option is: liquidation of financial obligations on instalment basis.



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