Which of the Following Expense Accounts Is Associated with Intangible

question 64

Multiple Choice

Which of the following expense accounts is associated with intangible assets with a definite life?

• A)Depletion expense.
• B)Depreciation expense.
• C)Amortization expense.
• D)None of the above.

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Definitions:

Open-Market Purchase

The buying of government securities by the central bank from the market to increase the money supply and decrease the interest rate.

Store Of Value

An asset that can be saved, retrieved, and exchanged in the future without significantly losing value.

Currency

The system of money in common use in a country, which facilitates the exchange of goods and services.

Liquid Asset

An asset that can easily be converted into cash in a short period without losing value.