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Economic obsolescence

Economic obsolescence is depreciation resulting from economic conditions, such as the deterioration of the neighborhood.

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Related terms

economic obsolescence
Financial services; Real estate investment

Economic obsolescence is depreciation resulting from economic conditions, such as the deterioration of the neighborhood.

economic obsolescence
Real estate; General

Loss of useful life and desirability of a property through economic forces, such as change in zoning, changes in traffic flow, etc., rather than deterioration.

economic obsolescence
Accounting; General accounting

Reduction in the desirability or economic life of an asset caused by factors such as regulatory changes, technological changes, and excess supply.

obsolescence
Language; Dictionaries

The state of becoming obsolete.

obsolescence
Education; SAT vocabulary

The condition or process of gradually falling into disuse.

obsolescence
Politics; Political Science

In economics, a reduction of the life of capital assets, such as machinery, by improvements in technology or economic changes, rather than through natural wear and tear.

accelerated cost recovery system (ACRS)
Financial services; Real estate investment

Before 1981, assets used for the production of income were depreciable if they were subject to wear and tear or decline due to natural causes or obsolescence. Assets that did not ...

accelerated depreciation
Financial services; Real estate investment

Accelerated depreciation is a method of depreciation in which larger deductions are taken earlier in the life of the asset than with the straight-line method. Examples include the ...

account
Financial services; Real estate investment

An account is a written record of a business transaction expressed in money and kept in a ledger.

accounting principles
Financial services; Real estate investment

Accounting principles refer to an accounting doctrine that explains current practices and is a guide for the selection of accounting conventions or procedures when alternatives ...

accrued depreciation
Financial services; Real estate investment

Accrued depreciation is the difference between the cost of replacing new property and the present market value of the property.

active income
Financial services; Real estate investment

Active income is all taxable income of a taxpayer except income from a passive activity and portfolio income. Passive activity is something in which the taxpayer does not actively ...

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