When Estimating the Useful Life of an Asset, Accountants Do

question 18

Multiple Choice

When estimating the useful life of an asset, accountants do NOT consider

• A) the cost to replace the asset at the end of its useful life.
• B) obsolescence factors.
• C) expected repairs and maintenance.
• D) the intended use of the asset.

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Definitions:

Abnormality

Generally refers to a deviation from the norm or average, often used in psychology to describe behavioral, emotional, or cognitive patterns that are atypical or associated with dysfunction.

High-Functioning Autistic

An individual with autism who has a higher IQ and exhibits less severe symptoms, allowing for more independent functioning.

Autistic Behavior

Actions or behaviors characteristic of autism spectrum disorder, including difficulties in social interaction, communication challenges, and repetitive behaviors.

Cognitive Deficits

Impairments in processing information, including memory, problem-solving, and attention.