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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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