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Useful life
Assessing Longevity in Noncurrent Asset Utilization
December 17, 2023
How do companies determine the useful life of noncurrent assets?
Companies evaluate various factors like physical wear and tear, technological advancements, and expected obsolescence to determine the useful life of noncurrent assets. Industry standards, historical data, and expert assessments also contribute to estimating the asset's productive lifespan.
Tags : Noncurrent Assets , Useful Life , Asset Utilization