Which of the following assets should be amortized?
A)building
B)patent
C)oil reserves
D)timber

Name: Which of the following assets should be amortized? A)building B)patent C)oil reserves D)timber
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Question

Quizplus · Accepted Answer

Patents are intangible assets with a finite useful life, so they should be amortized (i.e., expensed over the useful life of the patent). Buildings, oil reserves, and timber are tangible assets that may be subject to depreciation or depletion, but not amortization.

Which of the Following Assets Should Be Amortized