Yes its fine to turn the power off at the power point. In fact this saves money because there is no idle appliance power drain. It is also a safe practice to disconnect the power at night or over longer periods of inactivity because there have been instances where plasmas in particular have caught on fire. Turning the power off will not affect your friends LCD TV they are designed and built by engineers who incorporate power surge protection. The circuit breaker should be one of very good quality and if this is the case then your friends LCD will be fine.
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