Question: Where in the codification does it discuss impairments for fixed assets? How often is impairment testing conducted? What are the steps in testing for impairment?

  1. Where in the codification does it discuss impairments for fixed assets?
  2. How often is impairment testing conducted?
  3. What are the steps in testing for impairment?
  4. What is the criteria for determining what levels I should test for impairment?
  5. Show a typical journal entry for impairment

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