Question

What term is used to describe the situation where the value of an intangible asset may be significantly diminished

Answer 1

Impairment

Step-by-step explanation:

For the intangible assets i.e. the assets which cannot be seen or even touched, for the same, the impairment should be charged like goodwill impairment etc

It explains the situation where the value of an intangible assets would be important diminished

Therefore the same is to be considered