To what extent do not-for-profit organizations have the ability to choose among the following: a. using depreciation,

Question:

To what extent do not-for-profit organizations have the ability to choose among the following:
a. using depreciation,
b. ignoring depreciation,
c. maintaining building and equipment on the at their original cost,
d. showing such assets at their market value, or
e. completely charging such assets such as expenses in the year acquired?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...