A not-for-profit organization receives $150 from a
donor. The donor receives two tickets to a theater show and an
acknowledgment in the theater program. The tickets have afair
market value of $100. What amount is recorded as contribution
revenue?
a.
$0
b.
$50, answer
c.
$100
d.
$150
please explain why and how to get the answer.
2. In Year 1, Gamma, a not-for-profit organization,
deposited at a bank $1,000,000 given to it by a donor to purchase
endowment securities....