Share this site with del.icio.us Share this site with furl Share this site with stumbleupon Share this site with google Add this site to Yahoo Bookmarks Click here to add us to your favorites Subscribe to our Feed





economic life

Definition

Period over which an asset (machine, property, computer system, etc) is expected to be usable, with normal repairs and maintenance, for the purpose it was acquired, rented, or leased. Expressed usually in number of years, process cycles, or units produced, it is usually less than the asset's physical life, and is the period over which the asset's depreciation is charged. Also called average life, economic useful life, effective life, mean life, or useful life.

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z