The term used to describe the allocation of the cost of an intangible asset to the periods it benefits is
A)depletion.
B)apportionment.
C)amortization.
D)depreciation.

Question

Quizplus · Accepted Answer

Amortization is the term used to describe the allocation of the cost of an intangible asset to the periods it benefits. This is similar to depreciation for tangible assets and depletion for natural resources. Apportionment is the process of dividing expenses between different departments or cost centers, and depletion is the allocation of the cost of natural resources over their estimated useful life.

The Term Used to Describe the Allocation of the Cost