Choice "C" is correct. Both grants to other organizations and depreciation are recorded as expenses in a not-for-profit organization.
Choice "d" is incorrect. Although partially correct in that grants to other organizations are recorded as expenses in not-for-profit organizations, excluding depreciation from total expenses of a not for profit organization is incorrect.
Choice "b" is incorrect. Both grants to other organizations and depreciation are recorded as expenses in a not-for-profit organization.
Choice "a" is incorrect. Although partially correct in that depreciation is recorded as an expense in not-for-profit organizations, excluding grants to other organizations from total expenses of a not-for-profit organization is incorrect.