Listed below are nine technical accounting terms used in this chapter:

$$\begin{array}{lll}\text { Unrecorded revenue } & \text { Adjusting entries } & \text { Accrued expenses } \\ \text { Book value } & \text { Matching principle } & \text { Accumulated depreciation } \\ \text { Unearned revenue } & \text { Materiality } & \text { Prepaid expenses }\end{array}$$

Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms.
f. A type of account credited when customers pay in advance for services to be rendered in the future.

How did the creation of the Fed improve our banking system?

Understanding the evolution of our banking system is important because it helps us understand the features of modern banking. Today we have a managed money supply that is accepted by everyone simply because people have faith in it. Which of the following is true about our banking system today?

c) Our banking system is shifting away from electronic bookkeeping.

Thomas Jefferson was born in 1743. How old was he when he was elected president of the United States in 1800? (Write an equation and solve the problem.)

How do you think a mobilization effort such as the one that occurred in the early 1940s would affect the United States today? Explain your answer.

Explain the design of the type of gas container shown in the illustrations and graphs in Lesson 3.

According to the Federal Bureau of Investigation, there is a violent crime in the United States every 22 seconds ( $A B C$ News, September 25, 2007). Assume that the time between successive violent crimes is exponentially distributed.

a. What is the probability that there is a violent crime in the United States in the next one minute?

b. If there has not been a violent crime in the previous minute, what is the probability that there will be a violent crime in the subsequent minute?

Silicon is the second most abundant element in the Earth's crust, and its compounds can be as ordinary as beach sand. However, silicon also plays an indispensable role in modern devices such as computers, cell phones, semiconductors, and solar panels. A recent technology incorporates silicon in nanometer-sized particles called quantum dots that act as luminescent labels for pancreatic cancer cells. Identify the electron configuration of a silicon atom.

The number of AIDS-related deaths/year in the United States is given by the function $f(t)=-53.254 t^{4}+673.7 t^{3}-2801.07 t^{2} +8833.379 t+20,000$ $(0 \leq t \leq 9)$ with t=0 corresponding to the beginning of 1988. Find the total number of AIDS-related deaths in the United States between the beginning of 1988 and the end of 1996.

The Lyric Opera of Chicago is one of the largest and best-managed opera companies in the United States. Managing opera productions requires advance planning, including the development of scenery, costumes, and stage properties and the sale of tickets. To measure how well the company is operating in any given year, management must apply accrual accounting to these and other transactions. At year-end, April 30, 2011, Lyric Opera’s balance sheet showed deferred production costs and other assets of $1,978,322 and deferred ticket and other revenue of$12,710,639. What accounting policies and adjusting entries are applicable to these accounts? Why are they important to Lyric Opera’s management?

Design a brochure that explains information about each biological molecule discussed in this chapter.

An old manuscript reveals that a landowner in the time of King Arthur held 3.00 acres of plowed land plus a livestock area of 25.0 perches by 4.00 perches. What was the total area in the more modern unit of square meters? Here, 1 acre is an area of 40 perches by 4 perches, 1 rood is an area of 40 perches by 1 perch, and 1 perch is the length 16.5 ft.

The United States has a land area of about

$$3,536,278\ mi^2.$$

Illinois has a land area of about

$$57,918\ mi^2.$$

What is the probability that a location in the United States chosen at random is not in Illinois? Give your answer to the nearest tenth of a percent. How can you solve this problem using the complement of an event? How do you write a fraction as a percent?

Modern vacuum pumps make it easy to attain pressures of the order of $10^{-13}$ atm in the laboratory. Consider a volume of air and treat the air as an ideal gas. (a) At a pressure of $9.00 \times 10^{-14}$ atm and an ordinary temperature of 300.0 K, how many molecules are present in a volume of $1.00 \mathrm{cm}^{3}$? (b) How many molecules would be present at the same temperature but at 1.00 atm instead?

During the $1990$s, General Electric put together a long string of consecutive quarters in which the firm managed to meet or beat the earnings forecasts of Wall Street stock analysts. Some skeptics wondered if GE “managed" earnings to meet Wall Street's expectations, meaning that GE used accounting gimmicks to conceal the true volatility in its business. How do you think GE's long run of meeting or beating earnings forecasts affected its cost of capital? If investors learn that GE's performance was achieved largely through accounting gimmicks, how do you think they would respond?