obsolescence Definition

obsolescence

Definition

A loss in the utility of an asset due to the development of improved or superior equipment, but not due to physical deterioration.

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Related Terms

depreciation - More

Net Domestic Product - More

asset impairment - More

Popular 'Accounting' Terms

current ratio
equity
working capital
asset
EBITDA

revenue
net income
negotiable
net profit
net worth

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Nearby Terms

Obamanomics
objective
obligation
obligation bond
obligor
obsolescence
OCC
occupancy agreement
occupation
occupational hazard
October Effect

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