The English Premier League Broadcasts Its Games to Hundreds of Millions

question 10

Multiple Choice

The English Premier League broadcasts its games to hundreds of millions of households in more than two hundred countries and is reportedly watched by more than a billion people each week. This is what Marshall McLuhan would call:

• A) a social movement.
• B) a global village.
• C) television.
• D) faith in technology.
• E) a social dilemma.

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Definitions:

Adjusting Entries

Ledger adjustments made at an accounting period's end to distribute income and spending according to the period they occurred.

GAAP

A body of accounting and financial reporting standards and rules widely adopted, defined as Generally Accepted Accounting Principles.

Revenue Recognition

The accounting principle that revenue should be reported at the time goods are sold or services are rendered, regardless of when the payment is received.

Expense Recognition

The accounting principle that matches incurred expenses to the revenue they generate, recognizing expenses in the same period as the related revenues.