If a Not-For-Profit Organization Has Revenues in Excess of $500,000

question 50

Multiple Choice

If a not-for-profit organization has revenues in excess of $500,000, how must it report its capital assets?

• A) All asset purchases must be immediately and entirely expensed.
• B) All capital assets must be capitalized and amortized.
• C) All capital assets must be capitalized but not amortized.
• D) All capital assets must be disclosed in a note to the financial statements.