The Form 990 Consists of 12 Parts (Core Form)and Several

question 15

Multiple Choice

The Form 990 consists of 12 parts (core form) and several schedules.Which of the following would not be included as one of the parts of the core form of the Form 990?

• A) Statement of program services and accomplishments.
• B) Management analysis of the financial condition of the organization.
• C) Balance sheet.
• D) A checklist of required schedules.

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Definitions:

Straight-Line Method

A method of calculating depreciation of an asset which assumes the asset will lose an equal amount of value each year over its useful life.

Declining-Balance

A method of accelerated asset depreciation where the depreciation expense decreases over time.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, reflecting the asset's wear and tear or obsolescence.

Depreciation Produces

An accounting process that allocates the cost of a tangible asset over its useful life, thus producing a systematic reduction in value to reflect wear and tear or obsolescence.