Amortization is a term which means the same as Depreciation. Which of the following standards discourages but does NOT restrict the use of the term "Amortization" on depreciable assets?
A) ASPE
B) IFRS
C) GAAP
D) CICA

Question

Quizplus · Accepted Answer

IFRS discourages but does not restrict the use of the term "amortization" for depreciable assets, preferring the term "depreciation" for tangible assets and "amortization" for intangible assets.

Amortization Is a Term Which Means the Same as Depreciation