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tankabanditka [31]
3 years ago
14

The term applied to the amount of cost to transfer to expense resulting from a decline in the utility of intangible assets is:__

____. a. amortization. b. depletion. c. allocation. d. depreciation.
Business
1 answer:
kondaur [170]3 years ago
3 0

Answer:

a. amortization

Explanation:

The intangible assets are those assets which cannot be seen or even touched and are reported in the asset side of the balance sheet

The examples are patents, copyrights, trademarks, goodwill, etc.  

The journal entry to record the amortization expense is shown below:

Amortization expense A/c Dr XXXXX

     To Intangible asset A/c $32,380

(Being amortization expense is recorded)

The amortization expense for the intangible assets is considered, not the depreciation expense plus it reduced the utility of intangible assets

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If a one-year bond has a face value of $5,000 and is sold for $4,500, what is the interest rate on the bond?
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