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What happens if the asset that has increase in fair value

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Problem 1: Although investments should be written down to their fair value when it is determined that they are impaired, GAAP does not allow for the investment to be written up if an increase in value is determined to have occurred. For what reason is this distinction made? What happens if the asset that has increase in fair value is sold at that fair value?

Reference no: EM132757082

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