1. A professional basketball team has the following kinds of revenues: Explain whether the revenues should be recognized in advance of games, at the time of games, or after the end of the season. Justify your answers

a. Season tickets, which it sells before the basketball season starts.

b. Game-day tickets

c. Food sales during games

d. Television contract revenues, under a five-year contract. It receives money once per year, before the start of the season.

e. "Seat license fees" which it receives from people buying "skyboxes." These are one-time payments. The buyers of the licenses must also make annual rental payments for the boxes.