The Major Difference Between the Service Life of an Asset

question 47

Multiple Choice

The major difference between the service life of an asset and its physical life is that

• A) service life refers to the time an asset will be used by a company and physical life refers to how long the asset will last.
• B) physical life is the life of an asset without consideration of salvage value and service life requires the use of salvage value.
• C) physical life is always longer than service life.
• D) service life refers to the length of time an asset is of use to its original owner, while physical life refers to how long the asset will be used by all owners.

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Definitions:

Intelligence Test

A standardized test designed to measure human intelligence as distinct abilities or as a single general ability.

Current Name

The present or most recent name or designation of an entity, individual, or concept.

Terman Revised

An updated version of a psychological test or intelligence scale originally developed by Lewis Terman, often referring to the Stanford-Binet Intelligence Scales.

David Wechsler

A psychologist known for developing several widely used intelligence scales, including the Wechsler Adult Intelligence Scale (WAIS).