Q277
The assets which have a limited useful life are termed as
A.
Limited assets
B.
Depreciable assets
AnswerC.
Unlimited assets
D.
None of the above
Answer: Option B
Solution
Answer: Option B
Solution:
The assets which have a limited useful life are termed as Depreciable assets. The assets which are held by a business for the production and supply of goods and services, expected to be used for more than an accounting year and have a limited useful life are known as Depreciable Assets.