Which of the following statements is true regarding the amortization of intangible assets?
A)The expected residual value of most intangible assets is zero.
B)The service life of an intangible asset is always equal to its legal life.
C)Intangible assets with a limited useful life are not amortized.
D)In recording amortization,an accumulated amortization account is always used.

Question

Quizplus · Accepted Answer

Intangible assets typically have no residual value at the end of their useful life, hence the expected residual value is often zero.

Which of the Following Statements Is True Regarding the Amortization