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The number of production or similar units expected to be obtained from the use of an asset by an enterprise is called as _________
  • a)
    Unit life
  • b)
    Useful life
  • c)
    Production life
  • d)
    Expected life
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
The number of production or similar units expected to be obtained from...
Useful life is either (i) the period over which a depreciable asset is expected to be used by the enterprise; or (ii) the number of production or similar units expected to be obtained from the use of the asset by the enterprise.
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The number of production or similar units expected to be obtained from the use of an asset by an enterprise is called as _________a)Unit lifeb)Useful lifec)Production lifed)Expected lifeCorrect answer is option 'B'. Can you explain this answer?
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