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What is an asset's useful life?

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Question added by shanavas pulath , SENIOR ACCOUNTANT , RAYDAN FOOD COMPANY (Joint stock company)
Date Posted: 2015/04/11
OWAIS QAZI
by OWAIS QAZI , Accounts & Finance Manager , Skyhigh Industries (Pvt) Ltd.

Assets useful life is the whole period during which an Asset (Fixed) could be used or usable.

ايمن محمد عاطف محمد
by ايمن محمد عاطف محمد , Director of the control and regulation unit , ACOLID

An asset's useful life is the period of time (or total amount of activity) for which the asset will be economically feasible for use in a business. In other words, it is the period of time that the business asset will be in service and used to earn revenues.

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