A City Recorded an Asset Impairment to a Public Works

question 16

Multiple Choice

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.

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