Which of the following is a term used to describe management's recognition that a significant portion of long-lived assets is no longer as productive as originally 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 long-lived assets is no longer as productive as originally expected. Asset depreciation refers to the systematic allocation of the historical cost of tangible assets over their useful lives. Asset amortization refers to the systematic allocation of the historical cost of intangible assets over their useful lives. Asset disposal refers to the sale or disposal of a long-lived asset before its useful life has ended.

Which of the Following Is a Term Used to Describe