OBSOLESCENCE

obsolescence

obsolescence (ob-s[schwa]-les-[schwa]nts). 1. The process or state of falling into disuse or becoming obsolete. 2. A diminution in the value or usefulness of property, esp. as a result of technological advances. • For tax purposes, obsolescence is usu. distinguished from physical deterioration. Cf. DEPRECIATION. [Cases: Taxation 348(4).] economic obsolescence. Obsolescence that results from external economic […]

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obsolescence

glossary / OBSOLESCENCE, 废弃, 淘汰, 贬值, 过时

obsolescence n. 废弃；淘汰；过时；贬值常用于税法的一个术语。指资产、财物等因技术、新发明、新替代品的廉价和广泛应用和公众好恶等原因而降低价值。这是一种功能上的、经济上的和法律上的变化，同该财产物质上的变化没有关系。 (→economic obsolescence; functional obsolescence)

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