If an asset's physical condition deteriorates more rapidly than would be reflected by normal depreciation,that is referred to as:

Name: If an asset's physical condition deteriorates more rapidly than would be reflected by normal depreciation,that is referred to as:
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Question

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Asset impairment occurs when the asset's market value drops significantly below its book value due to rapid deterioration or other factors, beyond what is accounted for by normal depreciation.

If an Asset's Physical Condition Deteriorates More Rapidly Than Would