Intangible assets are usually amortized using

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Quizplus · Accepted Answer

Intangible assets are assets that lack physical substance and can include items such as patents, trademarks, and copyrights. These assets have a finite useful life and therefore need to be amortized over their useful life. The straight-line method is the most commonly used method of amortization and involves dividing the cost of the intangible asset by its useful life. This results in a consistent amount of amortization expense being recorded each year. The other methods listed, such as units-of-production, declining-balance, and sum-of-the-years'-digits, are more commonly used for tangible assets and are not typically used for intangible assets.

Intangible Assets Are Usually Amortized Using