Asked by
Miguel Jauregui
on Oct 15, 2024
Verified
The cost of an intangible asset is systematically allocated to depreciation expense over its estimated useful life.
Intangible Asset
An asset that is not physical in nature, such as patents, copyrights, trademarks, and goodwill.
Depreciation Expense
An accounting method of allocating the cost of a tangible asset over its useful life to represent how much of the asset's value has been used.
Estimated Useful Life
The expected period over which an asset is anticipated to be used by a business.
- Understand the importance of intangible assets and their amortization.
Verified Answer
AM
Learning Objectives
- Understand the importance of intangible assets and their amortization.