👉 Undebased is a phrase used in accounting to describe an asset or liability that has been reduced by its carrying value due to a decrease in market price. It is often used when discussing financial statements, where the asset's carrying amount is decreased as a result of a change in market conditions, such as a decline in interest rates or changes in economic conditions. The term "undebased" refers to that the asset's market value has not been reduced by the decrease in its carrying value, making
