In the statement of activities of a not-for-profit, depreciation expense should a. be included as an element of expense. b. be included as an element of other changes in fund balances. c. be included as an element of support. d. not be included.

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter6: Business Expenses
Section: Chapter Questions
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In the statement of activities of a not-for-profit, depreciation expense should
a. be included as an element of expense.
b. be included as an element of other changes in fund balances.
c. be included as an element of support.
d. not be included.

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