If a Not-For-Profit Organization That Usually Has Had Annual Revenues

question 43

Multiple Choice

If a not-for-profit organization that usually has had annual revenues well below $500,000, subsequently has (for two years or more) revenues significantly higher than $500,000, how must it report its Capital Assets?

• A) It must capitalize and amortize retroactively.
• B) It must continue following the same policy.
• C) It must capitalize and amortize prospectively.
• D)It must capitalize, but not amortize, retroactively.

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Definitions:

Parental Discipline

The strategies and methods used by parents to teach and guide their children towards appropriate behavior and away from misbehavior.

Self-discipline

The ability to control one's feelings, behaviors, and desires to achieve a long-term goal.

Induction

The process of initiating or causing something to happen, often used in contexts like labor in childbirth or reasoning in logic.

Unacceptable Behavior

Actions or conduct deemed inappropriate or offensive according to societal standards, norms, or expectations.