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lease ind as 17

Anmol Singla (808 Points)

13 May 2018

please tell me difference between economic life and useful life definition in lease

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Venkat (Freelancer) (26 Points)
Replied 18 October 2018

Economic life-Period for which asset is usable with normal repairs and maintainance , for the purpose it was acquired, Useful Life - Period for which the asset will be in service and used to earn revenue.

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