Replacement cost refers to the amount of money it would cost to replace an asset at the current market price. This value considers the cost of purchasing a similar new asset and any associated costs like installation, transportation or setup charges. It is commonly used in insurance policies to determine the payout amount in case of damage or loss of the insured property.
Replacing
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present participle of replace
Replacing meaning & definition 1 of Replacing.
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to take the place of something, or to put something or someone in the place of something or someone else:
Replacing meaning & definition 2 of Replacing.
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the act of furnishing an equivalent person or thing in the place of another
Replacing meaning & definition 3 of Replacing.
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Replacing refers to the act of substituting or exchanging one thing for another. It involves removing something (whether its a physical object, idea, or process) and putting something else in its place. This term can be used in various contexts, such as in repair work, technology, business, or abstract concepts. Replacing can also refer to filling a previously occupied position or role with a new individual or element.
Replacing meaning & definition 4 of Replacing.
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