Impairment charges are the expenses recognized to record a decline in value of a long-term asset.

Name: Impairment charges are the expenses recognized to record a decline in value of a long-term asset.
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Impairment charges are recognized to record the decline in value of a long-term asset. This is usually done when the carrying amount of the asset exceeds the recoverable amount, and the impairment charge is recognized as an expense in the income statement.

Impairment Charges Are the Expenses Recognized to Record a Decline