Which of the Following Statements Regarding Exempt Organization Filing Requirements

question 118

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 $50,000.
• 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) Exempt organizations whose annual gross receipts do not exceed $50,000 can file an e-Postcard.
• D) Only a. and b. are incorrect.
• E) a., b., and c. are incorrect.

---

Definitions:

Earnings Per Share

A metric that shows the portion of a company's profit attributed to each share of common stock, used to gauge a company's profitability.

Sales Revenue

The total income generated from the sale of goods or services before any expenses are subtracted.

Cost of Goods Sold

The immediate expenses associated with producing a company's sold merchandise.

Stock Dividend

A distribution of extra shares instead of cash to shareholders, which raises the total share count they possess.