1. What is the difference between accounting and finance

2. Why is understanding sport economics important for someone working in sport finance?

3. Briefly explain the differences among a balance sheet, a cash flow statement, and an income statement.

4. What happens to the present value of an annuity if the discount rate is increased? What happens to the future value if the discount rate is increased ?

5. If we assume and interest rate of 5% would you rather have $1,000 today or receive $1, 120 in 3 years? Please explain why.

6. Assume that two athletes sign 10 -year contracts that pay out a total of $100 million over the life of the contracts. One contract will pay the $100 million in equal installments. The other contract will pay the $100 million in installments, but the installments increase 5% per year. Which athlete received the better deal? Please explain why.