In accounting, the terms “depreciation” and “amortization” both have basically the same meaning--that is, a periodic charging to expense.
a. True
b. False
A. true (Accounting procedure that gradually reduces the cost value of a limited life or intangible asset through periodic charges to income. For fixed assets the terms used is DEPRECIATION, and for wasting assets (natural resources) it is depletion, both terms meaning essentially the same thing as amortization.)
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What will be an ideal response?
Companies can legitimately charge a higher price if ________
A) consumers perceive that the company's product offers greater value B) the demand for products manufactured by a firm is highly elastic C) the cost of advertising is minimal D) derived demand remains constant E) consumers de-emphasize quality
Answer the following statements true (T) or false (F)
IAS 12 classifies deferred tax accounts as either current or non-current, depending on the account to which they pertain. .
Obligations that extend beyond one year are referred to as ____________________
Fill in the blank(s) with correct word