IMPAIRED GOODWILL Definition

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IMPAIRED GOODWILL is the recognition of the reduction in value of the intangible asset known as goodwill.

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GOING CONCERN CONCEPT is the underlying assumption that any accountant makes when he prepares a set of accounts. That the business under consideration will remain in existence for the foreseeable future.

LETTER OF CREDIT, CONFIRMED is a letter of credit that is guaranteed by a bank that is acceptable to a seller (usually a local bank), regardless of buyers bank.

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