Obsolescence

Definition and stakes

Roy B. Kester,  Accounting theory and practice… (1922)

“ Many writers and some authorities have said that while obsolescence is as certain and ever present as the forces of nature, it seldom is more possible of measurement than are they. However, engineers tell us that in most cases it is possible for qualified experts to foretell with reasonable certainty the effect of obsolescence. “Those most familiar with the art know the units which will be able to serve their entire physical life, and what classes are so uneconomical or otherwise defective that some improvement must be expected.” ”
Source: Gutenberg

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