KIN 3804 Midterm Exam (Svensson) Questions With Correct Answers

KIN 3804 Midterm Exam (Svensson)
Questions With Correct Answers

Why is financial management important in the sport industry? - CORRECT
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ANSWER✔✔-Financial management is important because we need to be able to | | | | | | | | | | |


manage budgets within every area/department of sport
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4 different historical time periods - CORRECT ANSWER✔✔--1990s and early
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2000s: Era of Growth| | |




-2007-2009: The Great Recession | | |




-2010: The New Contemporary Environment
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-2020: The Pandemic | |




1990s and early 2000s: Era of Growth - CORRECT ANSWER✔✔--New sport
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facilities
-New professional leagues and teams
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-Increased and significant growth in corporate investment
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2007-2009: The Great Recession - CORRECT ANSWER✔✔--Severe and lingering
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impact of recession | |




· Increase in cost of attendance
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· Emergence of high definition broadcast and technology
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· Reliance of corporate funds caused decline
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,2010: The New Contemporary Environment - CORRECT ANSWER✔✔--More
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challenging economic environment | |




· More competition from other entertainment
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-Shift to different markets
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· Games in other countries
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2020: The Pandemic - CORRECT ANSWER✔✔--Furloughed staff and reduced staff
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size due to financial implications of COVID-19
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How and why did these events shape the financial reality of the sport industry? -
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CORRECT ANSWER✔✔-Corporate investments, emphasis on broadcasting and
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technology, and globalization | |




Current financial issues in non-profit sports - CORRECT ANSWER✔✔-Starvation
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cycle, Fundraising challenges, Program competition
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Starvation Cycle - CORRECT ANSWER✔✔--Underinvestment in the organizational
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infrastructure needed to sustain nonprofits | | | |




-Three main factors | |




1. Donors having unrealistic expectations
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2. Nonprofits feeling pressured to comply with donor expectations
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3. Nonprofits neglecting to develop the necessary infrastructure while also
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misinterpreting data |

, Current Financial issues in college sports - CORRECT ANSWER✔✔--Grim financial
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realities for athletic departments
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-Increase financial discrepancies
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-Struggle to control cost and spending
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-Constrained revenue sources to fill revenue shortfall| | | | | |




Current financial issues in profession sports - CORRECT ANSWER✔✔--The "Big
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Four" leagues reached saturation
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-Most growth has occurred at the minor league level (big five)
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-Rise of major league soccer
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-Emphasis on strategic branding | | |




What's the purpose of the Federal Reserve System? - CORRECT ANSWER✔✔-1.
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Provides central banking for the entire U.S.
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2. Controls interests' rates, money supply, and banking oversight
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What's the purpose of pivot tables? - CORRECT ANSWER✔✔-Table used to
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summarize, sort, reorganize, group, count, total, or average data stored in a
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database


How do you set up a pivot table to match a desired output? - CORRECT
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ANSWER✔✔--Know how to set up a table | | | | | |




-Highlight data |




-Organize by what you are looking for
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