Final answer:
Amortization expenses are an example of expenses allocated over the periods during which related assets are expected to provide benefits, as stated in FASB SFAC No. 5.
Step-by-step explanation:
According to FASB SFAC No. 5: "Recognition and Measurement in Financial Statements of Business Enterprises", some expenses are allocated by systematic and rational procedures to the periods during which the related assets are expected to provide benefits. An example of the above statement is b. amortization expenses. Amortization is the process of allocating the cost of an intangible asset over its useful life. This method reflects the consumption of the asset's economic benefits over the periods in which they are expected to be generated.
Firms often invest in assets that provide benefits over several periods. For instance, when a firm buys machinery or engages in research and development, such costs are capitalized and then systematically allocated as amortization (for intangible assets) or depreciation (for tangible assets) across the useful life of the asset. This ensures that the expense is matched with the revenue generated in the same accounting period, adhering to the matching principle in accounting.