QUESTION 9 What is depreciation? The textbook states that "Depreciation is the accounting process of allocating the cost of tangible assets to expense in a systematic and rational manner to those periods expected to benefit from the use of the asset." Where is this guidance found in the Codification? QUESTION 10 How much impairment should be recognized for PP8E? The textbook states that impairment loss is the amount by which the carrying amount of the asset exceeds the fair value of the asset (Ch. 11). Where is this guidance found in the Codification