Examlex
What events cause the dissolution of a partnership?
Impairment Loss
The amount by which the carrying amount of an asset or a cash-generating unit exceeds its recoverable amount.
Fair Value
The estimated market value of an asset or liability, reflecting the price it would fetch in an orderly transaction between market participants at the measurement date.
Book Value
The net value of a company's assets, minus its liabilities, as it appears on the balance sheet.
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