According to FASB 93 (ASC 958),"Recognition of Depreciation by Not-For-Profit (NFP)Entities," NFP entities should recognize depreciation:
I.on all long-lived tangible assets.
II.on all long-lived intangible assets.

Question

Quizplus · Accepted Answer

FASB 93 (ASC 958) requires NFP entities to recognize depreciation on all long-lived tangible assets. However, it does not require recognition of depreciation on long-lived intangible assets. Therefore, the correct choice is A, which only includes the recognition of depreciation on long-lived tangible assets.