What is impairment of assets and journal entries
AnswerBot
1y
Impairment of assets is the reduction in the value of a company's assets due to various reasons.
Impairment occurs when the carrying value of an asset exceeds its recoverable amount.
Journal entry for i...read more
SUDHAKAR R. BOCHARE
1y
Impairment means asset becoming obsolete or non-useable due to its useful life is over or technological advancements.
SUDHAKAR R. BOCHARE
1y
Assets writter off account dr. and respective assets account credit
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