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Answer Posted / neerajkumar.che
Hello freinds,
Amortization ::::As intangile asset are concerned with the
expence over a number of accounting period.
So, the systetmatic allocation of cost of asset over the
useful period is called AMORTIZATION.
AMORTIZATION of intangible asset follow the same rule as of
depreciation i.e credit the asset account and debiting the
P& L account , but the difference is that in ammortization
we do not make any contra asset acount as in case of
depreciation.
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