Depreciation Expense Is Recorded in Which of the Following Funds

question 48

Multiple Choice

Depreciation Expense is recorded in which of the following funds for a voluntary health and welfare organization electing to use fund accounting?

• A)​Current Unrestricted Fund
• B)​Plant Fund
• C)​Depreciation is recorded in both the Current Unrestricted and Plant funds.
• D)​Depreciation is not normally recorded by health and welfare organizations.

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Definitions:

Result

The consequence or effect obtained after performing a specific action or series of actions.

Original Amount

The initial sum of money before any changes, such as appreciation, depreciation, or interest, have been applied.

Final Value

The value of an investment or loan after the application of interest or other financial changes.

Simplify

To alter a complex equation or expression into a simpler form that retains the original meaning or value.