What is the meaning of "Life span" of an asset
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The useful life of an asset is an estimation of the length of time the asset can reasonably be used to generate income and be of benefit to the company. Useful life does not refer to the length of time the asset will last. The useful life of identical assets varies by user, and that life depends on the asset's age, frequency of use, condition of the business environment, and repair policy. Additional factors that affect an asset's useful life include anticipated technological improvements, changes in laws, and economic changes.
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life span meaning how longer does life continue.
Explanation:
The length of time that something is likely to live, work, last, etc.
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example: The lifespan of a mosquito is of only 15 days
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