
A city recorded an asset impairment to a public works facility. Which of the following is correct concerning the recording of the amount of the asset impairment?
A) The General Fund would record a debit to Expenditures.
B) The General Fund would record a debit to Other Financing Uses-Loss due to Impairment.
C) The governmental activities accounts would record a debit to Loss due to Impairment.
D) The governmental activities accounts would record a debit to Expenses-Public Works.
Correct Answer:
Verified
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