Section 4430 of the CICA Handbook Contains a Provision Applicable

question 31

Multiple Choice

Section 4430 of the CICA Handbook contains a provision applicable to not-for-profit organizations which grants an exemption from capitalizing and amortizing all their fixed assets.The exemption is applicable to:

• A)not-for-profit organizations with fewer than ten employees.
• B)not-for-profit organizations that have assets less than $1 million.
• C)not-for-profit organizations that are unincorporated.
• D)not-for-profit organizations whose two year average annual revenues in their statement of operations are less than $500,000.

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Definitions:

Criterion Validity

The extent to which a measure is related to an outcome. It assesses whether a test reflects a certain set of abilities by correlating test results with a criterion measure.

Face Validity

The extent to which a test appears to measure what it is supposed to measure at face value.

Naturalist Intelligence

A type of intelligence described by Howard Gardner, involving sensitivity to and understanding of the natural world and living things.

Intrapersonal Intelligence

A type of intelligence that involves the capacity to understand oneself, including one's emotions, motivations, and thoughts.