Which of the Following Would Not Be Determined to Result

question 57

Multiple Choice

Which of the following would not be determined to result in asset impairment under GASB Statement 42?

• A) An expansion project at a city airport is halted when a major airline discontinues service to city.
• B) A building is damaged by a hurricane
• C) A truck is at the end of its useful life
• D) New technology renders previous equipment obsolete

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Definitions:

Treaty

A formal agreement between two or more sovereign states concerning trade, peace, or other mutual cooperation.

Case of First Impression

A legal case that presents a court with an issue or question that has not previously been decided by that court’s jurisdiction, requiring new legal analysis.

Primary Sources

Original documents, materials, or evidence directly related to the topic being researched, used as a direct source of information.

Secondary Sources

Materials that comment on, analyze, or are a step removed from the actual law, such as textbooks or law review articles.