Amortization expense is recorded for:
A)intangible assets with an indefinite life.
B)intangible assets with a finite life.
C)goodwill.
D)franchise established with a contract with unlimited extensions.

Question

Quizplus · Accepted Answer

Amortization expense is only recorded for intangible assets that have a finite life. Intangible assets with an indefinite life, such as goodwill or a franchise established with a contract with unlimited extensions, are not subject to amortization.

Amortization Expense Is Recorded For