Form 990, Return of Organization Exempt from Income Tax, Requires

question 141

Multiple Choice

Form 990, Return of Organization Exempt From Income Tax, requires all of the following except:

• A) Statement of Program Accomplishments
• B) Governance, Management and Disclosures
• C) Compensation Schedules
• D) Statement of Cash Flows

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Definitions:

Selling Price

The amount of money for which a product or service is sold to the purchaser.

Trade Discount

A reduction on the list price granted by a seller to a buyer based on the quantity purchased or the buyer's trade status.

Net Price

The actual price that is paid for a product or service after deducting any discounts, rebates, or other adjustments.

Discount

A reduction applied to the regular price of goods or services, often used as a sales strategy.