_____ Status State University (SSU) Has Volunteers Who (A) Regularly

Multiple Choice

_____ Status State University (SSU) has volunteers who (a) regularly provide teaching services to SSU and (b) are paid only nominal amounts to reimburse them for their commuting costs. During 2006, SSU paid $33,000 to these volunteers (retired scientists who teach science courses on a part-time basis) . The gross value of services performed by these volunteers amounted to $400,000. What amount should SSU report for contributions revenues in 2006 for these volunteers' services?

A) $-0-
B) $33,000
C) $367,000
D) $400,000
E) $433,000