Economic events are often considered to happen when there is an exchange of money. However,...
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Accounting
Economic events are often considered to happen when there is an exchange of money. However, an economic event refers to any event that can potentially change an organization's financial position. The recognition of goodwill impairment is an example.
Describe an economic event that would affect an organization's financial position but does not involve the exchange of cash.
Select two of your classmates' posts, and discuss ways that an organization may be able to prepare or mitigate negative impacts.
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