Section 4431 Contains a Compromise Applicable to Not-For-Profit Organizations Whose

question 22

Multiple Choice

Section 4431 contains a compromise applicable to not-for-profit organizations whose two-year average annual revenues are less than $500,000. These organizations must disclose all of the following EXCEPT:

• A) accounting policy for capital assets.
• B) information about capital assets not shown in the balance sheet.
• C) the amount expensed in the current period if their policy is to expense capital assets when acquired.
• D)an appraised listing of the organizations capital assets, showing book values and appraised market values.

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Definitions:

Institutions Function

Refers to how established organizations or societal systems fulfill their roles or purposes.

Leader

An individual who influences and guides others towards achieving a common goal, often demonstrating qualities such as vision, courage, and integrity.

Personal Traits

Characteristics or qualities that form an individual's distinctive character and influence their behavior and interactions.

Self-confidence

Assurance in one's own abilities, qualities, and judgment.