Definition of "Useful life"

Dave Jackley . . . exactly!   real estate agent
Dave Jackley . . . exactly! , Real Estate Agent Berkshire Hathaway HomeServices The Preferred Realty

Usual operating service life of property for the purpose it was acquired. The useful life used for depreciation accounting does not necessarily coincide with the actual physical life or any commonly recognized economic life. An example is a building that can be used for 30 years.

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