extinguishment of debt definition
To eliminate debt such as a company's repurchase or retirement of its outstanding bonds.
To eliminate debt such as a company's repurchase or retirement of its outstanding bonds.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.