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:

Long-Term Liabilities

Financial obligations of a company that are due after a year or more.

Net Income

Net income is the total earnings of a company after subtracting all expenses, taxes, and losses.

Operating Profit Test

A financial metric used to assess a company's profitability from its core operations, excluding effects of financing and taxes.

Operating Segment

A component of an enterprise that engages in business activities from which it may earn revenues and incur expenses.