MChapter 10 Quiz c Dezto.mheducation.com/hm.tpx x Factors for Calculating Dej X

Question

MChapter 10 Quiz c Dezto.mheducation.com/hm.tpx x Factors for Calculating Dej X connect ACCOUNTING Chapter 10 Qutz Question 10 (of 10. The tem, obsolescence as it relates t0 the useful life of an asset, refers to. O The end of an asset's usetu life O A plantasset that is no longer useful in producing goods and services with a compettive advantage The insumicient copecity of a compony's plent assets to meet the company's productive demands O An escer's calvege value becoming less than ins replacement cost O Intangible assets thet heve been fully emortized

Explanation / Answer

Obsoloscence is literall the outdating of an equipment or a technology to meet the demands of the industry. From the iven options, the meaning can be inferred as

A plant asset that can be no longer useful in producing goods and services with a competitive advantage.

Option 3 which has been marked can also be correct only if the insufficient capacity has arisen in the later period of life of the asset. The more appropriate answer is Option 2

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