Follow Our FB Page << >> for Daily Laughter. We Post Funny, Viral, Comedy Videos, Memes, Vines...

what is amortization?

Answers were Sorted based on User's Feedback

what is amortization?..

Answer / nagarjuna

Amortization:- it is a calculation of Intangible Assets
like good will, patents, copy rights etc.

Is This Answer Correct ?    11 Yes 2 No

what is amortization?..

Answer / vinay kumar . pagidikondala

It is a process of writing of intangible assets.

Is This Answer Correct ?    2 Yes 0 No

what is amortization?..

Answer /

Amortization usually refers to spreading an intangible
asset's cost over that asset's useful life. For example, a
patent on a piece of medical equipment usually has a life
of 17 years. The cost involved with creating the medical
equipment is spread out over the life of the patent, with
each portion being recorded as an expense on the company's
income statement.

Is This Answer Correct ?    1 Yes 0 No

what is amortization?..

Answer / srikar

gradually reduces the value of goodwill and tangible assets

Is This Answer Correct ?    1 Yes 0 No

what is amortization?..

Answer / dharmesh sati

Amortization, an accounting concept similar to
depreciation, is the gradual reduction of the value of an
asset or liability by some periodic amount (i.e., via
installment payments). In the case of an asset, it involves
expensing the item over the "life" of the item—the time
period over which it can be used. For a liability, the
amortization takes place over the time period that the item
is repaid or earned. Amortization is essentially a means to
allocate categories of assets and liabilities to their
pertinent time period.

Is This Answer Correct ?    0 Yes 4 No

Post New Answer

More Accounting General Interview Questions

what should by the journal entries for tds payble

5 Answers  

what type of acounts is share application account

8 Answers   KPSC Karnataka Public Service Corporation,

if company give the purchase order worth of 10,000 (INR) in advance, but the seller only sell around 8,000 (INR)and remain ing Rs 2000 return to the company, so how to deal with this scenario in accounts payable in oracle, can u hide to me

0 Answers  

Can any body missuses the pass book of a saving account in a bank in India? I mean in case some body steal a pass book, can the account be stolen too?

4 Answers   State Bank Of India SBI,

What is the definition(meaning) for the Final accounts adjustment 'Uninsured goods lost fire'?

0 Answers  

What is Venture Capital ?

10 Answers  

Detail your responsibilities in accounts receivable

0 Answers  

what is monthly final accounts and analysis

1 Answers  

"A" has two divisions of "B" and "c".In our system we have two vendor accounts of B&C.We have received one Non PO invoice of B and posted wrongly in C and its got paid.While reconciling the account we got this error is happend.We contacted the C and asked for refund.But C said,he transfer internally the amount directly to B and he will not refund the amount.How we will settle this entry in our books. If we reverse the entry...there is one invoice needs to be reverse and payment doc needs to be we can settle this in our books...

0 Answers  

Kindly tell me some journal entry of provision . 1) Make provision for Rs 100 teliphone bill on 31 March 2010. 2) teliphone bill received Rs 150/- on dated 10 Apr 2010. What will be journal entry for both case in tally.

11 Answers   Goldman Sachs,

what is the difference bitween Consolidated and Parent Companies?

2 Answers   Capital IQ,

Discuss the consistency concept in accounting

0 Answers