Pertanyaan
In a nongovernmental not-for-profit entity, which of the following should be included in total expense?
Jawaban
Depreciation - Yes
Penjelasan
Step1:
Identify the components of total expense In accounting, total expense includes all costs incurred by the entity during the period. This includes both operating and non-operating expenses.
Step2:
Determine if grants are considered an expense Grants are financial aid given to an organization, which is typically considered revenue rather than an expense. However, in the context of a not-for-profit entity, grants may be used to cover expenses, making them indirectly part of total expense.
Step3:
Assess the role of depreciationDepreciation is the allocation of the cost of a tangible asset over its useful life. It is a non-cash expense that reduces the value of an asset as it is used. Depreciation is recognized as an expense in accounting.
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