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.
Depreciation Accounting – General Questions and Answers: Learning Objectives: Answers of some of the general questions about depreciation accounting. Theoretical: What is depreciation and how is it brought about? Name the different methods of providing for depreciation, and discuss any one of them in
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