The process of allocating the cost of an intangible asset over its useful life is known as ____
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Correct Answer: Option D
Explanation:
Amortization is the process of allocating the cost of an intangible asset (such as patents, trademarks, or goodwill) over its useful life. This is similar to depreciation, but while depreciation applies to tangible assets, amortization applies to intangible assets.
Amortization is the process of allocating the cost of an intangible asset (such as patents, trademarks, or goodwill) over its useful life. This is similar to depreciation, but while depreciation applies to tangible assets, amortization applies to intangible assets.