Amortization is: Multiple Choice 1 0 Recorded for every plant asset except land. 0 The allocation of a plant asset's cost to expense over the years it is used. 0 An accelerated form of expensing an asset's cost. 0 Recorded for every intangible asset. 0 The allocation of an intangible asset's cost to expense over its estimated useful life. Nguyen Company owns equipment that cost $34,000 with accumulated depreciation of $17,000. Nguyen sells the equipment for $15,300. Which of the following would not be part of the journal entry to record the disposal of the equipment? Multiple Choice Credit Equipment $34,000. Debit Cash $15,300. Debit Loss on Disposal of Equipment $1,700. Debit Accumulated Depreciation $17,000. Credit Gain on Disposal of Equipment $1,700. Depreciation: Multiple Choice Measures physical deterioration of an asset. Is an outflow of cash from the use of a plant asset. Measures the decline in market value of an asset. Is the process of allocating the cost of a plant asset to expense. Is applied to land