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Case 10-7 Impaired Abilities Scenario A Required: you have been asked by the engagement partner to (1) react to both the client memo and other

Case 10-7 Impaired Abilities Scenario A Required: you have been asked by the engagement partner to (1) react to both the client memo and other related information and (2) provide a supported position regarding the appropriate accounting for these securities as of the March 31, 2010, balance sheet date. would your position be affected if the fair value of the debt securities declined below historical cost by only 2 percent?why or why not

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