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Question
The number of years an asset is expected to be useful before it wears out is called its ___________.
The number of years an asset is expected to be useful before it wears out is called its ___________.
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Solution
The correct option is B estimated useful life
Useful life is the estimated lifespan of a depreciable fixed assets, during which it can be expected to contribute to company operations. This is an important concept in accounting since a fixed asset is depreciated over its useful life.
Useful life is the estimated lifespan of a depreciable fixed assets, during which it can be expected to contribute to company operations. This is an important concept in accounting since a fixed asset is depreciated over its useful life.
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