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Which of the following entities would NOT recognize depreciation expense in its operating statement? A) A not-for-profit University. B) A not-for-profit Foundation. C) A governmental

Which of the following entities would NOT recognize depreciation expense in its operating statement?

A) A not-for-profit University.

B) A not-for-profit Foundation.

C) A governmental Special Revenue Fund.

D) A not-for-profit Hospital.

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