Term:
Service life (of an asset)
Definition:
The service life of an asset is the total period during which it remains in use, or ready to be used, in a productive process. During its service life an asset may have more than one owner.
Domain:
Economics & National Accounts
Source:
Measuring Capital: OECD Manual, Annex 1 Glossary of Technical Terms Used in the Manual, OECD, 2001
