Define Aseet life cycle

Question

Accepted Answer

The asset life cycle refers to the stages an asset goes through from acquisition to disposal.

The asset life cycle typically includes the following stages: acquisition, utilization, maintenance, and disposal.
During the acquisition stage, assets are purchased or obtained.
The utilization stage involves using the asset for its intended purpose.
Maintenance activities ensure the asset remains in good working condition.
Finally, the asset is disposed of when it is no longer needed or becomes obsolete.
Examples of assets with life cycles include vehicles, machinery, and software.

Accepted Answer

Asset life cycle will start from asset planning, acquire , usage, maintain and final disposal.

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