WHAT IS THE DIFFERENCE BETWEEN DEPRECIATION AND AMORTIZATION?
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Level:
Hard
Let's review specialized English - Accountant
Question Types: Multiple choice
Answers:
- Depreciation is only applicable to land and buildings, while amortization is applicable to all assets
- Depreciation is recorded on the income statement, while amortization is recorded on the balance sheet
- Depreciation is the decrease in value of tangible assets over time, while amortization is the decrease in value of intangible assets over time
- Depreciation and amortization have the same meaning