Question: 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

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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