Accounting · Depreciation and Amortization
Which of the following statements correctly defines the accounting term 'amortization'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The direct writing off of bad debts in financial statements
- 2Increase in the value of assets due to periodic revaluation
- 3Systematic allocation of the cost of intangible assets over their useful life✓
- 4Systematic reduction in the value of tangible fixed assets over time
Correct answer
Systematic allocation of the cost of intangible assets over their useful life
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