Examlex
Estimated Useful Life
The expected timeframe during which an asset is likely to be functional and useful for its intended purpose before it becomes obsolete.
Depreciation
The process of allocating the cost of a tangible asset over its useful life, reflecting the asset's consumption, wear, and tear, or obsolescence.
Depreciable Cost
The cost of a plant asset less its salvage value.
Remaining Useful Life
The expected period that an asset is anticipated to be functional and economically viable for use in operations.
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