Economic factors that shorten the service life of an asset include

Question

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All of these factors can contribute to shortening the service life of an asset. Obsolescence refers to when new technologies or products make the asset outdated or less useful. Supersession occurs when a newer version of the asset is created and the old one is no longer needed. Inadequacy refers to the asset no longer meeting the needs or demands of the user, which can lead to premature replacement or repair.

Economic Factors That Shorten the Service Life of an Asset