Sam Smith Died, Leaving a Will That Provided That $1,000,000

question 67

Multiple Choice

Sam Smith died, leaving a will that provided that $1,000,000 be transferred to a private not-for-profit college. The college is to invest the funds for 10 years and give $40,000 each year to the granddaughter. At the end of the 10 years, the $1,000,000 can be used for any purpose desired by the college. Which of the following is true?

• A) The college would record revenue in the amount of $1,000,000, increasing temporarily restricted net assets.
• B) The college would record revenue in an amount equal to the $1,000,000 less the present value of the 10 payments to the granddaughter.
• C) The college would record revenue in an amount equal to the present value of the 10 payments to the granddaughter.
• D) The college would not record revenue for 10 years; then a revenue would be recorded, increasing unrestricted net assets.

Understand the relationship between social structure and crime dynamics.

Grasp the role and process of how crime is measured and reported in the United States.

Discern the difference between white-collar crime and other forms of crime, and understand its implications on societal perception of crime.

Comprehend the motivational factors and societal impact behind crimes through the perspective of criminological theories, especially Jack Katz's work.

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Definitions:

Middens

In archaeology, refuse or garbage disposal areas in prehistoric sites.

Ancient Trash

Archaeological term for the refuse and discarded materials left behind by past human activities, which can reveal insights into historical lifestyles and economies.

Ethnology

The comparative study of cultures to understand human behavior and social life across different societies.

Participant Observation

A research method in anthropology and sociology where the researcher immerses themselves in the community being studied to observe and participate in their daily activities.