Beta Co.recorded a loss due to impairment of some of its assets.As a result of this journal entry:
A) liabilities are increased.
B) expenses are increased.
C) Stockholders' equity is increased.
D) Assets are decreased.

Question

Quizplus · Accepted Answer

Since Beta Co. recorded a loss due to impairment of some of its assets, this means that the value of the assets has decreased. Therefore, the entry would involve decreasing the value of the assets, resulting in a decrease in the total assets of the company.

Beta CoRecorded a Loss Due to Impairment of Some of Its