What Is the Meaning of "Useful Life

question 16

Multiple Choice

What is the meaning of "useful life"?

• A)The estimated amount that an entity would currently obtain from disposal of the asset, after deducting disposal costs, for an asset of similar age and condition expected at the end of its useful life.
• B)The total amount to be expensed through depreciation.
• C)The systematic allocation of an asset's depreciable amount over its estimated useful life.
• D)The estimated period of time over which an asset is expected to be available for use by an entity.

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Definitions:

Antioxidants

Substances that can prevent or slow damage to cells caused by free radicals, often found in foods.

Free Radicals

Unstable atoms or molecules with unpaired electrons that can cause damage to cells, proteins, and DNA by stealing electrons from other molecules.

Longevity

The length of time that an individual lives or a thing lasts.

Maximum Life Span

The longest period an individual member of a species is known to have lived, considering genetic and environmental factors.