Churches Must File a Form 990

question 169

True/False

Churches must file a Form 990.

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Definitions:

January

In the Gregorian calendar, the year begins with January, recognized as the first month.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard variable overhead expected for the actual production level.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard cost of the variable overhead allotted for the actual production level.

Supplies

Materials and items that are used in the day-to-day operations of a business but are not directly tied to the production of goods or services.