Indicate your choice by entering the letter corresponding to the correct term. A term may be used more than once or not at all.
-"Tangible fixed assets not depreciated by a private college or university" describes which term listed above?
A)Fair value
B)Net assets without donor restrictions
C)GASB
D)FASB
E)Statement of Revenues,Expenditures,and Changes in Fund Balance
F)Lower of cost or market
G)Accrual method
H)Statement of Activities
I)General fund,restricted fund,endowment fund
J)Modified accrual method
K)Net assets with donor restrictions
L)Endowment fund
M)Unrestricted,temporarily restricted,permanently restricted
N)Depreciation
O)Works of art and other historical treasures
P)General fund
Q)Cost

Question

Quizplus · Accepted Answer

Tangible fixed assets not depreciated by a private college or university, such as works of art and historical treasures, are often considered to be held for public exhibition, education, or research in furtherance of public service rather than financial gain. These items are not depreciated because their value does not diminish over time in the same way as other tangible fixed assets.

Indicate Your Choice by Entering the Letter Corresponding to the Correct