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19. Smith Corp. is testing on of its manufacturing plants for impairment following a decline in real estate values for the market in which the
19. Smith Corp. is testing on of its manufacturing plants for impairment following a decline in real estate values for the market in which the plant is located. Smith Corp. has submitted its estimate of undercounted future cash flows to its auditors to ask whether the company's view of the value appears reasonable.
Identify one or more biases that could be at play, then explain.
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