USCPA每日一练之FAR【2015-11-28】

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Which of the following assets of a nongovernmental not-for-profit charitable organization must be depreciated?

A. A freezer costing $150,000 for storing food for the soup kitchen.

B. Building costs of $500,000 for construction in progress for senior citizen housing.

C. Land valued at $1 million being used as the site of the new senior citizen home.

D. A bulk purchase of $20,000 of linens for its nursing home.

Answer:A

This answer is correct because like for-profit organizations not-for-profit organizations must depreciate exhaustible fixed assets.

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