Intangible assets are amortized over their useful lives.

Name: Intangible assets are amortized over their useful lives.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Intangible assets, such as patents, copyrights, and trademarks, are amortized (or expensed) over their useful lives. This is similar to depreciation for tangible assets like buildings and equipment. The process of amortization helps to allocate the cost of the intangible asset over its expected useful life, reflecting the gradual decline in its value over time.

Intangible Assets Are Amortized Over Their Useful Lives