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

question 19

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 a two-year average annual gross consolidated revenue of less than $500,000
• C)has an annual change to net assets of less than $500,000
• D)has less than 10 full-time employees

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Definitions:

Personal Leave

Approved time off from work for personal reasons, not covered by other specific leave categories like sick or vacation leave.

Paid

The state of receiving money or compensation for services rendered or as an entitlement such as salary, wages, or benefits.

Concierge Services

Services provided to assist individuals in personal tasks, arrangements, or inquiries, often found in hotels, corporate settings, or luxury environments.

Employee Benefit

Non-wage compensations provided to employees in addition to their salaries, such as health insurance, retirement plans, and paid time off.