For the purpose of recording transactions into financial accounts, how is amortization expense different from depreciation expense?

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Quizplus · Accepted Answer

For the purpose of recording transactions into financial accounts, amortization expense different from depreciation expense in that it is the cost allocation of intangible versus tangible property. Amortization Expenses are intangible, such as purchased goodwill, while Depreciation Expense is based on tangible property.

For the Purpose of Recording Transactions into Financial Accounts, How