Amortization is the write-off of the cost of a tangible asset over its estimated lifetime.

Name: Amortization is the write-off of the cost of a tangible asset over its estimated lifetime.
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Amortization is the process of spreading the cost of an intangible asset (such as a patent or trademark) over its estimated useful life, while depreciation is the process of spreading the cost of a tangible asset (such as machinery or buildings) over its estimated useful life.

Amortization Is the Write-Off of the Cost of a Tangible