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0.75 points 1. Lamar Co. has been concerned about whether intangible assets could generate cash in case of liquidation. As a result, goodwill ansing from
0.75 points 1. Lamar Co. has been concerned about whether intangible assets could generate cash in case of liquidation. As a result, goodwill ansing from a purchase transaction during the current year and recorded at $800,000 was written off as follows: Dr. Retained earnings 800,000 Cr. Goodwill 800,000 Which accounting assumption, principle, or qualitative characteristic is being violated? O A. Cost principle. OB. Revenue recognition principle. O C. Going concern assumption. O D. Monetary unit assumption
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