A fall in the value of a fixed asset due to technological changes is described as?

A fall in the value of a fixed asset due to technological changes is described as obsolescence. Obsolescence occurs when a fixed asset becomes outdated and its usefulness declines due to changes in technology. For example, a computer system may become obsolete when new software requires more advanced hardware to run efficiently. As a result, the value of the asset may decrease due to the reduced demand for it. Obsolescence is different from wear and tear, which refers to the normal deterioration of a fixed asset due to usage over time. Wear and tear is a natural part of an asset's life cycle and is usually accounted for through depreciation. Depletion, on the other hand, refers to the reduction in value of natural resources due to their usage or extraction. For example, a coal mine may experience depletion as the coal reserves are extracted and the mine becomes less valuable. Superfluity refers to the surplus or excess of an asset, which may occur when there is a decrease in demand or when a company overinvests in assets. Therefore, the correct answer is obsolescence.