Which of the following is not a required disclosure about each major class of capital assets?

A. Beginning-of-year and end-of-year balances showing accumulated depreciation separate from historical cost.

B. Capital acquisitions and sales or other dispositions during the year showing the date and method of acquisition or disposition.

C. Depreciation expense for the current period with disclosure of the amounts charged to each function in the statement of activities.

D. Disclosures describing works of art or historical treasures that are not capitalized and explaining why they are not capitalized.

Answer rating: 100% (QA)

Answer The correct answer is option D Explanation Capital assets are s... View the full answer