A company accounts for a contract modification as a new contract if either (1) the promised goods or services are distinct, or (2) the company has the right to receive an amount of consideration that reflects the standalone selling price of the promised goods or services.

Research has found that some cultures prefer ____________ relations and may not react well to the confrontational dynamics more common among North Americans.

a. functional. b. harmonious. c. professional. d. dysfunctional. e. team.

You are going to invest all of your funds in one of three projects with the following distribution of

possible returns: PROJECT 1 PROJECT 2 Probability Return Standard Deviation Beta Probability Return Standard Deviation Beta 50% Chance 22% 12% 1.1 30% Chance 36% 19.5% 1.0 50% Chance -4% 40% Chance 10.5% 30% Chance -20% PROJECT 3 Probability Return Standard Deviation Beta 10% Chance 28% 12% 1.2 70% Chance 18% 20% Chance -8% If you are a risk averse investor, which one should you choose? A) Project 1 B) Project 2 C) Project 3 D) Either Project 1 or Project 2 because they have the same expected return