Question: What is the rationale for accounting for nonexpendable endowment funds on a full, rather than a modied, accrual basis? Why is it important that depreciation

What is the rationale for accounting for nonexpendable endowment funds on a full, rather than a modiﬁed, accrual basis? Why is it important that depreciation be charged on long-term assets held as ﬁduciary fund investments?

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