The LCR bridge operates similarly to a Wheatstone bridge, balancing impedance rather than resistance, which varies with frequency. By measuring the ratio of impedances, it allows for the calculation of capacitance and inductance. Modern LCR meters have largely replaced these bridges, utilizing a small sinusoidal voltage to measure current flow in the circuit. From this data, impedance is calculated using Ohm's law, enabling the determination of capacitance or inductance. Overall, the LCR bridge's theoretical foundation remains relevant, but practical applications have shifted to more advanced technology.