Obsolescence is the condition of individual which happens when an entity, service, or practice that is no longer required even though it may still be in good working order. Obsolescence occurs very frequently and when there is replacement available in less cost than there is no need to purchase a new one. Obsolescence occurs due to technological progress that occur at a very high speed.

Causes of Depreciation

Causes of Depreciation: Learning Objectives: What are the causes of definition? The main causes of depreciation may be divided into two categories, namely: Internal Cause and External Causes Internal Causes: Depreciation which occurs for certain inherent normal causes, is known as internal depreciation. The