Expected Useful Life Is

question 68

Multiple Choice

Expected useful life is

• A) calculated when the asset is sold.
• B) estimated at the time that the asset is placed in service.
• C) determined each year that the depreciation calculation is made.
• D) none of the answers are correct.

---

Definitions:

Lower-Order Needs

refer to basic human requirements such as safety, physiological needs, and security, primarily described in Maslow's hierarchy of needs.

Maslow's Hierarchy

A psychological theory proposing that humans are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization, in that order.

Lower-Order Needs

Basic human requirements such as physiological and safety needs that must be satisfied before higher-order needs can be addressed.

Higher-Order Needs

Esteem and self-actualization needs in Maslow’s hierarchy.