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Derecognition can mean 1-removing obsolete inventory from the warehouse. 2-depreciating an asset to a carrying amount of zero. 3-removing a liability from the balance sheet.
Derecognition can mean
1-removing obsolete inventory from the warehouse.
2-depreciating an asset to a carrying amount of zero.
3-removing a liability from the balance sheet.
4-reversing an entry to recognize revenue.
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