Recognition of amortization of an intangible asset illustrates which principle of accounting?

Expense recognition
Full disclosure
Revenue recognition
Historical cost

Solutions

Expert Solution

Option - Expense recognition.

An intangible asset is amortized uses expense recognition as the principle of accounting.

Intangible asset is amortized over the useful life or using the straight line method and amortized amount is recognized as an expense in the statement of Profit and loss.

ekkarill92 answered 1 year ago

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