Amortization

Hello John. Could you please help me with these points of mine? i) Is it correct that both depreciation and amortization is when the asset value is reduced by use of them over the period? ii) Depeciation is used for Tangible assets like NCA or Fixed assets iii) Amortization is used for Intangible assets like Goodwill, Research and Development etc. iv) The Journal entry for depreciation is: DR depreciation expense CR accumulated depreciation v) The Journal entry for amortization is: DR amortization expense CR accumulated amortization vi) Amortization expense will go to SOPL (similarly depreciation expense) whereas Accumulated amortization will reduce the asset value in SOFP (similarly accumulated depreciation)