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what is the meaning of life ?

what is the meaning of life ?

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Answer #1

Ans) Economic life is the expected period during which an asset remains useful with normal repairs and maintenance.

Further, physical life and economic life of an asset are different. While an asset can be physically optimal but not economically. For eg- when any technology becomes obsolete, the device or machinery can be physically fit or optimal or in good condition but it is not economically useful.

Economic life is an important concept for the businesses to know when to invest in any technology.

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