Economic life is the expected period of time during which an asset remains useful to the average owner. When an asset is no longer useful to its owner, then it is said to be past its economic life. The economic life of an asset could be different than its actual physical life. Thus, an asset can be in optimal physical … See more The economic life of an asset under the Generally Accepted Accounting Principles(GAAP) requires a reasonable estimate of the time involved. Businesses can shift their … See more Financial considerations regarding the economic life of an asset include the cost at the time of purchase, the amount of time the asset can be used in production, the time at which it will need to be replaced, and the … See more Depreciation refers to the rate at which an asset deteriorates over time. The depreciation rate is used to estimate the effects of aging, daily use, and wear and tear on the asset. When related to technology, … See more WebMACRS Asset Life table. ... Does not include equipment that is an integral part of other capital equipment that is included in other classes of economic activity, i.e., computers used primarily for process or production control, switching, channeling, and automating distributive trades and services such as point of sale (POS) computer systems. ...
What is economic life? Definition and example
Web1 day ago · The Clatsop Economic Development Resources awards celebration brought local businesses and business leaders to the Seaside Civic and Convention Center on April 6. http://www.engineering.utep.edu/enge/ee/11/02/1.htm its eternity in there
4.2 Determining the useful life and salvage value of an …
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