Which of the Following Is a Key Difference Between Depreciation

Multiple Choice

Which of the following is a key difference between depreciation and amortization?

A) Amortization is applicable for long-term assets, whereas depreciation is applicable for short-term assets.
B) Depreciation applies to tangible assets, whereas amortization applies to intangible assets.
C) Amortization is calculated for liabilities, whereas depreciation is calculated for assets.
D) Amortization is calculated for assets, whereas depreciation is calculated for liabilities.
E) Depreciation is applicable for long-term assets, whereas amortization is applicable for short-term assets.