A Not-For-Profit Organization Is NOT Required to Capitalize and Amortize

question 45

Multiple Choice

A not-for-profit organization is NOT required to capitalize and amortize its capital assets if the organization ________.

• A)has assets that total less than $500,000.
• B)has an annual change to net assets of less than $500,000.
• C)has less than 50 full-time employees.
• D)has a two-year average annual revenues of less than $500,000.

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Definitions:

Gut

Commonly refers to the gastrointestinal tract, the system of organs responsible for digestion and absorption of food.

Vaporizes

To convert or change a substance from a solid or liquid state into a gas or vapor, often by applying heat.

Cryosurgery

A medical procedure that uses extreme cold to destroy abnormal or diseased tissue.

Approximated

A term referring to the estimation or bringing together of edges, particularly in wound healing.