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Describe what is meant by asset impairment and identify the sources of inherent risks related to...

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Accounting

Describe what is meant by asset impairment and identify thesources of inherent risks related to asset

impairment.

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ASSET IMPAIRMENT An impairment loss takes place when a company makes the judgment call that the carrying value of an asset on the company balance sheet is less than fair value which is what an rational person would pay for the asset in an open marketplace If the impairment loss isnt recoverable under US generally accepted accounting practices    See Answer
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