Which Factor Will Affect the Estimated Useful Life of Property

question 17

Multiple Choice

Which factor will affect the estimated useful life of property, plant or equipment?

• A)Legal life of the asset.
• B)Technological obsolescence.
• C)Residual value.
• D)Salvage value.

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Definitions:

Groupthink

A phenomenon in decision-making where the desire for consensus within a group can lead to poor choices and suppress dissenting viewpoints.

Divergent Thinking

A mental strategy or procedure aimed at fostering innovative ideas by investigating a wide range of possible options.

Verification Stage

A phase in various processes where the validity or accuracy of something is checked or confirmed, often used in the context of testing or quality assurance.

Insight

The capacity to gain an accurate and deep intuitive understanding of a person or thing.