useful life

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Useful life

The expected period of time during which a depreciating asset will be productive.

Useful Life

The amount of time, as determined by the IRS, that an asset is expected to be used. The useful life is important in determining taxes assessed on the depreciated value of the asset each year. Theoretically, an asset's useful life is equal to its absolute physical life, but, because the useful life is an estimation, this is not always the case.

useful life

(1) In accounting and taxation,the time period over which an asset is depreciated.(2) In appraisal,the time period during which one can expect a positive cash flow from a property.

References in classic literature ?
On the very night after his capture the aneurism burst, and he was found in the morning stretched upon the floor of the cell, with a placid smile upon his face, as though he had been able in his dying moments to look back upon a useful life, and on work well done.
Along the path of a useful life, Will heartsease ever bloom.