Which of the following is NOT among the choices available to a not-for-profit organization with two-year average annual revenues of less than $500,000?

Question

Quizplus · Accepted Answer

A not-for-profit organization with two-year average annual revenues of less than $500,000 can either capitalize and amortize capital assets, capitalize and not amortize capital assets, or expense capital assets when acquired. However, making no entries when capital assets are acquired is not an option as it would violate generally accepted accounting principles.

Which of the Following Is NOT Among the Choices Available