The Correct Accounting Entry to Amortise an Intangible Asset Over

question 25

Multiple Choice

The correct accounting entry to amortise an intangible asset over its useful life is:

• A) DR Amortisation expense; CR Asset
• B) DR Accumulated amortisation; CR Amortisation of asset
• C) DR Amortisation expense; CR Accumulated depreciation
• D) DR Amortisation expense; CR Accumulated amortisation

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Definitions:

Majority Decision

A decision in a legal case or deliberative body made by more than half of the members or judges but not unanimously.

Appellate Court

A higher court that reviews the decisions of lower courts and may affirm, reverse, or modify those decisions.

Reversed

The act of a higher court changing the decision of a lower court.

Trial Court

A court of law where cases are tried in the first instance, as opposed to an appellate court.