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Describe the differences between centralized and decentralized organizations.
Useful Life
The estimated period of time over which an asset is expected to be usable by the entity, after which it may no longer be economically beneficial to keep.
Economic Value
The measure of the benefit obtained from a good or service, often compared to potential alternatives.
Operating Cost
Expenses related to the day-to-day functioning of a business, excluding costs related to production.
Useful Life
The expected period of time during which an asset is useful to the owner for its intended purpose, often affecting depreciation calculations.
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