1. Does the difficulty in determining the current value of an asset create a problem in determining the depreciation expense that should be charged for a year? Explain your answer.

2. Why would public service organizations need to measure income?.

3. What are the problems with the objective evidence and cost conventions, and how can they be overcome?

4. Is the information on the balance sheet, activity statement, and cash flow statement independent of one another or connected? Explain your answer.

The response to each question should be must be at least 200 words in length in APA format.

 References:

Financial Management for Public Health and Not-for-Profit Organizations (4th edition)