Revenue is recognized based on a five-step process that is applied to a company’s revenue arrangements. Briefly describe the five-step process. Explain the importance of contracts when analyzing revenue arrangements. How are fair value measurement concepts applied in the implementation of the five-step process? How does the five-step process reflect the application of the definitions of assets and liabilities?

A company had a steady revenue of $77,791. They expects revenue to decrease by $8,783 over the next 4 years. What is the total expected revenue worth right now if the company's MARR is 2%?

QUESTION 45

1. All of the following may be sources of revenue for a revenue bond EXCEPT

   		airports
   		user fees
   		tolls
   		property taxes

1 points   

QUESTION 46

1. Which of the following are factors that affect the marketability of municipal GO bonds?

   I. The quality

   II. Call features

   III. The issuer’s name

   IV. Credit enhancements

   		I and II
   		I, II, III, and IV
   		II and III
   		I, II, and III

1 points   

QUESTION 47

1. Investors who have international investments are subject to

   I. political risk

   II. currency risk

   III. regulatory risk

   		II and III
   		I and II
   		I and III
   		I, II, and III

1 points   

QUESTION 48

1. If the U.S. dollar has fallen in comparison with foreign currencies, which of the following statements is TRUE?

   		U.S exports increase.
   		Foreign currencies buy fewer U.S. dollars.
   		U.S. products cost more for foreign consumers.
   		U.S. exports are likely to fall.

1 points   

QUESTION 49

1. A registered representative may open all of the following customer account EXCEPT

   		a corporate account by a designated officer
   		a partnership account by a designated partner
   		a minor’s account by a custodian
   		an account in the name of Mr. Wegner for Mrs. Wegner

1 points   

QUESTION 50

1. Which of the following partnership documents needs to be filed with the secretary of state in the home state of the partnership?

   I. The certificate of limited partnership

   II. The partnership agreement

   III. The subscription agreement

   		I only
   		I and III
   		II and III
   		I, II, and III

What is risk and revenue management? How to analyze risk and revenue management of a company by looking into the company financial report?

What are the basic differences between the revenue realization principle and revenue from the contract with customers (ASC 606)? Do you think ASC 606 is better than the realization principle? Why? Give your reasons.

What are the new reporting and disclosure requirements for revenue recognition? Why is revenue recognition a Big Deal?

6) Unearned revenue is classified as

a. an asset account.

b.   a revenue account.

c. a contra-revenue account.

d.   a liability account.

7) Which of the following would not result in unearned revenue?

a. Rent collected in advance from tenants

b.   Services performed on account

c. Sale of season tickets to football games

d.   Sale of two-year magazine subscriptions

8) If an adjusting entry is not made for an accrued expense,

a. expenses will be overstated.

b.   liabilities will be understated.

c. net income will be understated.

d.   owner’s equity will be understated.

Imagine you have been selected to participate in an orientation program for international students who are coming to Michigan for the first time. What information do they need to know about life here, and how can they prepare themselves for the culture shock they will experience? Consider things like transportation, weather, entertainment, shopping, use of time, etc.

**Must be at least 200 Words

- Briefly explain the cultural influences on personality and apply it to a real person – for example, someone from current events, politics, business, sports, the entertainment field. Define the terms you’re using, and apply them to an aspect of this person’s life (a specific action, behavior, or decision, for example). How can we understand this person more fully by using this concept to understand him/her?