_______occurs when the fair value of an asset is less than its carrying value.
A) Unidentification
B) Amortization
C) Goodwill
D) Impairment

Name: _______occurs when the fair value of an asset is less than its carrying value. A) Unidentification B) Amortization C) Goodwill D) Impairment
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Question

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Impairment occurs when the fair value of an asset falls below its carrying amount on the balance sheet, indicating that the asset is overvalued compared to what it can currently earn or be sold for.

_______Occurs When the Fair Value of an Asset Is Less