Term
| Stock refers to the quantity of a product or resource that exists. |
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| Supply refers to the quantity of a product or resource that the owner is willing to offer or make available at a given price. |
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| The precise meaning of demand is the amount of a product or resource wanted at a given price. |
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| Interest, the time value of money, represents what it costs an economic agent to consume immediately by using funds that it does not have. |
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| Interest is typically expressed as a percentage of an original amount that is paid by a borrower or earned by a lender on a per annum basis. |
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| The effect of inflation is the erosion of the purchasing power of money over time. |
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| The financial manager's first goal is to ensure that the future value of a sum is sufficient to overcome the impact of inflation. |
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| The manager needs to reverse the procedure for determining future value in order to calculate a present value. |
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| The loss of or reduced productivity of physical assets is recognized and quantified as depreciation. |
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| To calculate straight line depreciation divide the original value of an asset by its expected life span. |
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| An important advantage of declining balance depreciation is the tax shelter it offers to profits generated early in an enterprise. |
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| Many assets will depreciate in value more at the beginning of their use than later in their use. |
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Term
| All supply and demand curves have the same point of equilibrium. |
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Term
| The indirect effect of a major sport or leisure project is the local purchasing and employment that results from direct sales and employment income. |
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| When evaluating the results of an economic impact study, the sports and leisure services manager should consider whether the multipliers that are used are truly reflective of economic conditions within the community. |
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| In spite of recent changes in compulsory income sources, property taxes remain the single largest source of revenue for local government. |
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| Local option taxes are legislatively enabled at the state level. |
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Term
| Requiring a developer to set aside a portion of the land for park and recreation use is known as: |
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Definition
| dedication ordinance or regulation. |
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Term
| In recent years, the greatest growth in revenues for sport and leisure service orgs has been from: |
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Term
| Partnerships and collaborations are frequently used interchangeably but have very different meanings. |
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Definition
| Partnerships come together with same vision and goals. |
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Term
| In today's changing fiscal environment, some public leisure service orgs are generating more than 50% of their income from |
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| Revenue sources may be placed on a service continuum with fair market pricing at one extreme and city budgeting at the other extreme. |
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Term
| Special fees are generally charged for providing some extraordinary service to consumers. |
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Term
| A contract is a term that describes a unit of trading for a financial or commodity future. |
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