Asked by
Deauntrae Lewis
on Nov 14, 2024
Verified
Cost allocation of an intangible asset is referred to as
A) amortization.
B) depletion.
C) accretion.
D) capitalization.
Cost Allocation
The process of identifying, aggregating, and assigning costs to cost objects, such as products, services, or departments.
Intangible Asset
An identifiable non-monetary asset without physical substance, such as patents, trademarks, and goodwill, that provides economic benefits.
Amortization
The process of spreading the cost of an intangible asset over its useful life.
- Absorb the fundamentals of amortization, depreciation, and depletion impacting intangible assets and tangible long-lived assets.
Verified Answer
CA
Learning Objectives
- Absorb the fundamentals of amortization, depreciation, and depletion impacting intangible assets and tangible long-lived assets.