For each of the following scenarios,use the two step approach to determine whether a long-term asset has been impaired and,if so,the amount of loss that should be recorded.
a.Equipment
b.Patent
Definitions:
Divorce Rates
The statistical measure of divorces that occur among a population within a given time frame, often expressed per 1,000 people or as a percentage.
Western Industrialized Countries
Nations that are economically developed and have advanced technological infrastructure, primarily located in the Western hemisphere.
Protective Role
An action or a behavior aimed at preventing harm or injury to oneself or others, often seen in social, psychological, or physical contexts.
Spousal Relationship
The interpersonal bond and dynamic between married partners, encompassing emotional, physical, and social connections.
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