Final answer:
Depreciation considers whether physical deterioration of an item is curable or incurable. In assessing depreciation and repairability, items in a sustainable-focused future are designed for durability, community resources, and quality, with an emphasis on repair over disposal to reduce environmental impact.
Step-by-step explanation:
The concept of whether an item of physical deterioration is curable or incurable is a function of depreciation. Depreciation is the accounting process of allocating the cost of an asset over its useful life. When determining depreciation, curable physical deterioration refers to the repairs or maintenance that can be done to restore the asset's condition, while incurable physical deterioration refers to the deterioration that cannot be fixed.
For example, if a car is damaged and can be repaired to restore its original condition, the cost of those repairs would be considered curable physical deterioration. On the other hand, if the car is damaged to the point where it cannot be restored to its original condition, the cost of replacing the car would be considered incurable physical deterioration.
In assessing depreciation and repairability, items in a sustainable-focused future are designed for durability, community resources, and quality, with an emphasis on repair over disposal to reduce environmental impact.
When considering depreciation, the concept of whether an item of physical deterioration is curable or incurable entails evaluating the cost-effectiveness and possibility of repairing the item as compared to the cost of replacement. In a future where every aspect of an item's lifecycle is optimized for sustainability and reducing environmental impact, the focus shifts towards craftsmanship, community resources, and high-quality goods.
Items are designed to be easily upgradable or repairable, in contrast to being part of a disposable economy. For example, a high-quality display designed to last a lifetime can be easily repaired by replacing a small failed electronic component, thus minimizing the environmental cost as opposed to manufacturing and disposing of an entire new unit.