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.

---

Definitions:

Control Procedures

Actions and activities that are implemented to prevent, detect, and correct inaccuracies and fraud in the financial statements.

Business Goals

Objectives that a company aims to achieve over a specific period of time.

Compliance

Adhering to laws, regulations, standards, and ethical practices that are relevant to an organization’s operations and industry.

Vulnerabilities

Weaknesses or gaps in a security system that can be exploited by threats to gain unauthorized access to an asset.