Question

decline in the value of intangible assets in aa given year was called

Answer 1

The Decline in the value of intangible assets is known as Amortization.

Under the system of accounting for intangible assets, the estimated life of such Assets is used for spreading the amount of Decline over a period of time.


This period is known as Amortization period.

It is similar to the use of depreciation to record decline in the value of tangible assets.

Answer 2

Answer:

Amortization

Explanation:

The value of intangible assets decreases from year to year for a defined time period.As depreciation is for tangible assets so is amortization for intangible assets such as licence rights,goodwill etc.