Question : _____________is used for writing off (fixed) tangible assets over their estimated useful.
Option 1: Depreciation
Option 2: Amortization
Option 3: Both A and B
Option 4: None of the above
Answer (1)
10th Jan, 2024
Correct Answer: Depreciation
Solution :
Answer =
Depreciation
The term 'Depreciation' is used for writing off (fixed) tangible assets over their estimated useful life and the term 'Amortisation' is used for writing off (fixed) intangible assets (such as goodwill, trademarks, copyrights, etc.) over their estimated useful life.
Hence, the correct option is 1.
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