Accumulated amortization, as used in accounting, represents:

Question

Quizplus · Accepted Answer

Accumulated amortization is the total amount of an asset's cost that has been allocated and charged off as an expense since the asset was acquired, through the process of amortization. It is a contra-asset account that offsets the balance of the related asset account on the balance sheet. Therefore, choice B, "the portion of asset cost written off as an expense since the acquisition date," is the correct answer.

Accumulated Amortization, as Used in Accounting, Represents