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number 13,14 i need help asap thank you Question 13 6pts Similar to depreciation of property, plant, and equipment, the Expense Recognition Principle also requires

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number 13,14 i need help asap thank you

Question 13 6pts Similar to depreciation of property, plant, and equipment, the Expense Recognition Principle also requires some sort of cost recovery for using up intangible sets such as patents or copyrights. This cost recovery for intangible assets is referred to as which of the following? Intangibles Devaluation O Depletion O Depreciation O Goodwill Reduction O Amortization Question 14 6 pts Which ONE of the following regarding closing entries is true? Closing entries are required for all nominal accounts. O Closing entries are required for all real accounts. O Closing entries are required to bring all prepaid asset and unearned revenue accounts to a zero balance prior to starting a new accounting period. O Closing entries are required to update capital contributions for the current period 6 pts SILITE

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