question archive Lamar Printing Company determines that a printing press used in its operations has suffered a permanent impairment in value because of technological changes
Lamar Printing Company determines that a printing press used in its operations has suffered a permanent impairment in value because of technological changes
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Lamar Printing Company determines that a printing press used in its operations has suffered a permanent impairment in value because of technological changes. An entry to record the impairment should
A) recognize an unusual loss for the period.
B) include a credit to the equipment accumulated depreciation account.
C) include a credit to the equipment account.
D) not be made if the equipment is still being used.
Option 1
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Option 2
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