Amortization expense is recorded for:

Name: Amortization expense is recorded for:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Amortization expense is recorded for intangible assets with a finite life, such as patents, copyrights, and trademarks. Intangible assets with an indefinite life, such as goodwill, are not amortized. Franchises established with a contract that allows for unlimited extensions may or may not have a finite life, depending on the terms of the contract, so the answer cannot be D.

Amortization Expense Is Recorded For