Sometimes long-term assets experience sudden dramatic decreases in value. For example, a waste dump might suddenly be

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Sometimes long-term assets experience sudden dramatic decreases in value. For example, a waste dump might suddenly be constructed next to an office building. When such impairment of value occurs, should the decrease in value be recognized immediately, or should the same amount of depreciation expense be recognized as in past years?

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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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