What is functional loss?
A)Functional loss occurs when the asset can still perform its function despite a loss in its market value.
B)Functional loss occurs when the asset becomes unusable to to misuse.
C)Functional loss occurs when the asset wears out due to being used for its intended function.
D)Functional loss occurs when the asset wears out due to the passage of time, whether or not it is used.
E)Functional loss occurs when the asset can still perform its original function, but that function is no longer valued.

Question

Quizplus · Accepted Answer

Functional loss occurs when an asset can still perform its original function, but that function is no longer valued or needed, making the asset less useful or obsolete.

What Is Functional Loss