When Estimating the Useful Life of an Asset, Accountants Do

question 218

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)vulnerability to obsolescence.
• C)expected repairs and maintenance.
• D)the intended use of the asset.

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Definitions:

Frequent

Occurring or done on many occasions, in many cases, or in quick succession.

Volunteer Work

Activities or tasks performed willingly by individuals without financial compensation for the benefit of the community.

Accomplishments

Achievements or tasks successfully completed, often showcasing skills, effort, or competence.

True Function

The genuine or intended purpose and operation of something, often as designed or theorized.