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When the Odwalla Company sought to improve the safety of its fresh juice drinks by pasteurizing voluntarily, they were:
Legal Life
The period in which an asset is legally allowed to be used for its intended purpose, or the duration of intellectual property protection under law.
Useful Life
The estimated period over which a fixed asset is expected to be usable by an organization.
Accumulated Depreciation
The aggregate sum of depreciation costs accounted for a fixed asset since its inception of use.
Equipment Account
A financial account that tracks the acquisition cost and depreciation of a company's equipment.
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