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:

Question

Quizplus · Accepted Answer

Section 4431 requires not-for-profit organizations to disclose their accounting policy for capital assets, information about capital assets not shown on the balance sheet, and the amount expensed in the current period if they have a policy to expense capital assets when acquired. However, they are not required to provide an appraised listing of their capital assets showing book values and appraised market values.

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