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Item1 Item 1Required information Required information Skip to question [The following information applies to the questions displayed below.] Choose the best answer. The Maryville Cultural
Item1 Item 1Required information Required information Skip to question [The following information applies to the questions displayed below.] Choose the best answer. The Maryville Cultural Center recently conducted a successful talent show in which local talent performed for a nominal prize. The talent show is an ongoing major event and is central to the centers mission. The event raised $6,400 in gross revenue. Expenses related to the event included $2,600 to rent an auditorium, $2,800 to advertise the event, $2,100 for trophies and other awards for the winner and the runners up, and $1,700 for printing and mailing tickets. The center believes there was no monetary value received by donors (attendees). To report this event in its statement of activities, the center will report: Multiple Choice Special event revenue of $6,400 and special event expense of $4,700. Special event revenue of $6,400 and fund-raising expense of $4,500. Special event revenue of $7,100 and fund-raising expense of $4,500. Special event revenue of $6,400, special event expense of $4,700 and fund-raising expense of $4,500
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