What is the purpose of amortization in accounting?(5 Points)Allocating the cost of an intangible asset over its useful lifeRecording changes in market value of investmentsDistributing dividends to shareholdersDepreciating tangible assets

Select all that applyFor intangible assets used in the manufacturing of a product, amortization is (select all that apply):Multiple select question.expensed when the inventory is soldexpensed in the period incurredincluded in the cost of inventory

No amortization is recorded forMultiple choice question.intangible assets with finite lives.intangible assets with indefinite lives.intangible assets used in production.intangible assets valued at fair value.

In relation to the amortization of intangible assets, PAS 38 Intangibles, requires that intangible assets with indefinite useful lives:Group of answer choicesare not subject to an amortization chargeare amortized by the straight-line method across their useful livesshould not be amortized in a period in which maintenance of the asset occursmust be amortized across a period of no more than 20 years

Which of the following intangible assets are usually subject to amortization? (Select all that apply.)Check All That ApplyPatentPatentGoodwillGoodwillTrademarkTrademarkFranchiseFranchise

For intangible assets used in the manufacturing of a product, amortization expense for the period isMultiple choice question.included in the cost of inventory.expensed during the period.included in other losses for the period.treated as an extraordinary loss.