Which of the Following Statements Regarding Exempt Organization Filing Requirements

question 38

Multiple Choice

Which of the following statements regarding exempt organization filing requirements is incorrect?

• A)Churches are required to file Form 990 (Return of Organization Exempt from Income Tax)only if its annual gross receipts exceed $25,000.
• B)The due date for Form 990 (Return of Organization Exempt from Income Tax)is the fifteenth day of the fifth month after the end of the taxable year whereas for private foundations the due date for Form 990-PF (Return of Private Foundation)is the fifteenth day of the fourth month after the end of the tax year.
• C)All exempt organizations whose annual gross receipts do not exceed $25,000 do not need to file either Form 990 (Return of Organization Exempt from Income Tax)or Form 990-PF (Return of Private Foundation).
• D)Only a.and b.are incorrect.
• E)a. ,b. ,and c.are incorrect.

---

Definitions:

Experience-curve Pricing

A pricing strategy that takes into account the decreased costs associated with increased production experience and volume.

Profit-oriented Approaches

Business strategies aimed at maximizing profit margins and financial outcomes.

Revenue

The total amount of money that a company receives from its activities, usually from the sale of goods and services to customers, before any expenses are subtracted.

Self-mutilation

The act of deliberately hurting one’s own body without intending to cause death, often as a way to cope with emotional pain.