Private not-for-profit organizations are not required to record depreciation expense.

Name: Private not-for-profit organizations are not required to record depreciation expense.
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Question

Quizplus · Accepted Answer

Private not-for-profit organizations are required to record depreciation expense just like for-profit organizations. This is because depreciation is an essential component of matching expenses to revenues and accurately reflecting the organization's financial position.

Private Not-For-Profit Organizations Are Not Required to Record Depreciation Expense