Impairments - writes the asset down to its new fair value...

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Impairments Permanent decline in the fair value of an asset. So as not to overstate the asset on the books, the company
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Unformatted text preview: writes the asset down to its new fair value during the year in which the decline in value occurs....
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This note was uploaded on 01/03/2012 for the course ACCOUNTING ac 201 taught by Professor - during the Spring '11 term at Montgomery.

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