A private not-for-profit university generally must depreciate all tangible fixed assets,except:
I.works of art and other historical treasures.
II.administration buildings.
A)I only
B)II only
C)Both I and II
D)Neither I nor II

Question

Quizplus · Accepted Answer

Private not-for-profit universities can only exclude works of art and other historical treasures from depreciation. Administration buildings and other tangible fixed assets must be depreciated over their useful life.

A Private Not-For-Profit University Generally Must Depreciate All Tangible Fixed