Time change assets are replaced on what type of schedule?

Time change assets refer to equipment or materials that require regular updates or replacements based on specific time intervals or usage. The correct answer being a "calendar or hourly" schedule highlights that these assets have maintenance or replacement schedules that are defined either by a calendar timeframe (like monthly or biannually) or by usage metrics (such as operating hours).

This dual scheduling approach allows for a more flexible management of assets, ensuring they are not only maintained according to time but also according to how much they are used. For example, a piece of equipment may need servicing every 500 operating hours, but if it is used less frequently, it might be replaced on a longer calendar schedule. Conversely, if it's used intensively, it could need maintenance often, regardless of the calendar interval.

Such a method ensures efficiency and effectiveness in asset management, as it aligns the asset’s lifecycle with its actual performance and usage, preventing overuse or degradation due to neglect.