The term, obsolescence, as it relates to the useful life of an asset, refers to:
A. The inability of a company's plant assets to function as designed.
B. An asset's salvage value becoming less than its replacement cost.
C. A plant asset that is becoming outdated and no longer used.
D. The halfway point of an asset's useful life.
E. Intangible assets that have been fully amortized.
Answer: C
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