Which of the following is a term used to describe management's recognition that a significant portion of fixed assets is no longer as productive as had originally been expected?
A)asset depreciation.
B)asset amortization.
C)asset impairment.
D)asset disposal.

Question

Quizplus · Accepted Answer

Asset impairment is the term used to describe management's recognition that a significant portion of fixed assets is no longer as productive as had originally been expected. It occurs when an asset's carrying amount exceeds its recoverable amount. Asset depreciation refers to the gradual decrease in value of a tangible asset over time, while asset amortization refers to the gradual decrease in value of an intangible asset over time. Asset disposal refers to the sale or disposal of a fixed asset that is no longer needed by a company.

Which of the Following Is a Term Used to Describe