Answer:
Functional Replacement Cost.
Explanation: Functional Replacement Cost is the cost of acquiring another equipments which has the capacity of performing the same functions as the one being replaced. In this case,the equipment acquired may not be similar to the one which it is aimed at replacing.
Functional replacement policy is a policy or product of Insurance companies which helps subscribers to be able to replace such items which may have been destroyed by fire or other accidents.
Answer:
Answer is Functional Replacement Cost.
Refer below.
Explanation:
Functional Replacement Cost — the cost of procuring another thing of property that will play out a similar capacity with equivalent productivity, regardless of whether it isn't indistinguishable from the property being supplanted.
