Amortization:
A)Is the systematic allocation of the cost of an intangible asset to expense over its estimated useful life.
B)Is the process of allocating to expense the cost of a plant asset to the accounting periods benefiting from its use.
C)Is the process of allocating the cost of natural resources to periods when they are consumed.
D)Is an accelerated form of expensing an asset's cost.
E)Is the same as depletion.

Question

Quizplus · Accepted Answer

Amortization refers specifically to the allocation of the cost of an intangible asset over its useful life.