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    Question

    Which of the following is the length of time that an

    asset is expected to be used by a company to generate revenue?
    A Salvage value Correct Answer Incorrect Answer
    B Residual value Correct Answer Incorrect Answer
    C Useful life Correct Answer Incorrect Answer
    D Depreciation rate Correct Answer Incorrect Answer

    Solution

    Explanation: The useful life of an asset is an estimate of the period of time over which the asset is expected to be used by a company to generate revenue.

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