what is the meaning of empairment asset
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Answer / prasanna11149@yahoo.co.in
An unexpected or sudden decline in the service utility of a
capital asset, such as a factory, property or vehicle. This
could be the result of physical damage to the asset,
obsolescence due to technological innovation, or changes to
the legal code. Impairments can be written off.
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Answer / sudhir
dictionary meaning: weaken or damage.
in case of tangible assets we use the word depreciation for
reduction in the value of the asset due to obsolence or
wear and tear.
in the case of intangible asset there is no wear and tear,
so therefore we use the word impairment for reduction in
the value of intangible asset.
depreciation is caused only due to wear and tear.
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