This paper shows that magnetoelastic waves propagating through an Fe-Si-B amorphous wire and ac currents passing through the same wire can be detected independently by a single pick-up coil. The detection efficiency is measured as a function of the bias field applied to the wire. The paper also describes a technique for observing dynamic magnetization processes in an amorphous wire magnetized by an ac current passing through it. The pick-up coil detects an electromotive force induced by the longitudinal component of magnetization vector. The circumferential component of the vector induces another electromotive force between the ends of the wire. Simultaneous observation and integration of these electromotive forces shows the two-dimensional behavior of the magnetization in the wire.