The amortization of finite life intangibles is recorded as:
A) a credit to accumulated amortization and a debit to amortization expense.
B) a debit to accumulated amortization and a credit to amortization expense.
C) a debit to cost of goods sold and a credit to accumulated amortization.
D) a credit to accumulated amortization and a debit to the asset account.

Question

Quizplus · Accepted Answer

Amortization of finite life intangibles involves debiting amortization expense and crediting accumulated amortization, similar to depreciation for tangible assets.

The Amortization of Finite Life Intangibles Is Recorded As