Question 1 (Mandatory) (8 points) 3 Listen Which of the following is true of valuations? Valuations are unbiased estimates of an asset's worth. Valuations are inexact due to the difficulty of predicting the future. A single asset has the same value for all companies. Valuations complicate decision making because measurements are imprecise. Question 2 (Mandatory) (8 points) Listen Which of the following is a reason for economists typically disputing claims of economic impact made by sport organizations? Failure to include costs of the project Organizations fail to quantify psychological impact of team, thus lowering potential value Teams are privately held and therefore the total financial impact cannot be estimated Lack of reputable consulting or accounting firms willing to conduct the study