Chapter 3
Long-Term Assets
90
AS-19 (
8
)
How can a company protect the value of its intangible assets?
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AS-20 (
9
)
True or False: In the year that a company has high taxable income, its accountant should help
to minimize the company's tax obligations by classifying long-term asset items as expense
items.
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AS-21 (
4
)
What is impairment?
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AS-22 (
4
)
What is the recoverable amount when it comes to asset impairment?
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