The time an asset is expected to last is called its
A) depreciation.
B) fiscal period.
C) net loss value.
D) useful life.

Question

Quizplus · Accepted Answer

The term "useful life" refers to the expected time period during which an asset can be used for its intended purpose before it becomes obsolete or needs to be replaced. Depreciation is the process of recognizing the decrease in value of an asset over time, usually due to wear and tear or obsolescence. Fiscal period refers to a specific period of time, such as a month or a year, used for accounting purposes. Net loss value is not a commonly used term in accounting.

The Time an Asset Is Expected to Last Is Called