When Darcy first proposes to Elizabeth, he spends most of the proposal dwelling on_____.

(c) Issue of bond

The club proposes to issue a 7% bond with a face value of $50 million on 1 January 2007 at a discount of 5%

that will be secured on income from future ticket sales and corporate hospitality receipts, which are approximately

$20 million per annum. Under the agreement the club cannot use the first $6 million received from corporate

hospitality sales and reserved tickets (season tickets) as this will be used to repay the bond. The money from the

bond will be used to pay for ground improvements and to pay the wages of players.

The bond will be repayable, both capital and interest, over 15 years with the first payment of $6 million due on

31 December 2007. It has an effective interest rate of 7·7%. There will be no active market for the bond and

the company does not wish to use valuation models to value the bond. (6 marks)

Required:

Discuss how the above proposals would be dealt with in the financial statements of Seejoy for the year ending

31 December 2007, setting out their accounting treatment and appropriateness in helping the football club’s

cash flow problems.

(Candidates do not need knowledge of the football finance sector to answer this question.)

The government on Friday proposed a new copyright law to make it illegal for Norwegians to copy songs from their own CDs onto MP3 players, but legal to do so for making a CD duplicate. The proposal, intended to bring Norway's law in line with European Union roles, drew immediate praise from the music and film industry as well as criticism from opponents. Even though Norway has remained outside the EU, it is bound by most of the bloc's directives through the European Economic Area Agreement.

The new proposal would allow fines and a maximum penalty of three years in prison for viola- ting copyrights and engaging in computer piracy. The amendment, which requires parliament's approval, would make it illegal to crack security codes on DVD and CDs or to provide software or hardware for doing so, a news release said. It would still be legal for a person to make a copy of their own CD or DVD for private use, even if that means cracking the code, as long as it was being copied onto the same digital medium and not onto another one. "For example, a CD's ( security code) could be cracked to play a recording on a car stereo, since a CD-player would be seen as an appropriate medium," the news release said. "But the security code could not be cracked to copy the recording onto an MP-3 player, since such a device would not be seen as an appropriate for a CD."

Gisle Hannemyr, of the University of Oslo's Department of Informatics, said the law was un-clear and unenforceable. "We are going to be a nation of lawbreakers if this law is passed in its cur- rent form," he said on the state radio network NRK. For his part, Hannemyr said he has already copied an appropriate song for his own MP-3 player: Radiohead's "Hail to the Thief."

The industry organization, ICT-Norway, on the other hand, lauded the proposal as visionary. The Norwegian government has shown a broad vision that is unique in Europe," said the group's secretary general Per Morten Hoff. He praised the law for recognizing the industry's right to protect copyrighted material.

According to the law proposed by the Norwegian government, it is illegal to _________.

A．make a CD duplicate from one's CDs.

B．make a copy of one's own DVD for private use.

C．make a copy of one's own CD onto the same digital medium.

D．crack security codes on DVD and CDs.

When he realized the true nature of the proposal, he ______ all communication with the group.

A．convert

B．reverted

C．severed

D．make

When he realized the true nature of the proposal, he ______ all communication with the group.

A．convert

B．reverted

C．severed

D．make

Which of the following proposals best responds to the issues raised by the author?

A．Innovative programmes using multiple approaches should be set up to reduce the level of unemployment.

B．A compromise should be found between the positions of those who view joblessness an evil greater than economic control and those who hold the opposite view.

C．New statistical indices should be developed to measure the degree to which unemployment and inadequately paid employment cause suffering.

D．Consideration should be given to the ways in which statistics can act as partial causes of the phenomena that they purport to measure.

Which of the following proposals best responds to the issues raised by the author?

A．Innovative programmes using multiple approaches should be set up to reduce the level of unemployment.

B．A compromise should be found between the positions of those who view joblessness an evil greater than economic control and those who hold the opposite view.

C．New statistical indices should be developed to measure the degree to which unemployment and inadequately paid employment cause suffering.

D．Consideration should be given to the ways in which statistics can act as partial causes of the phenomena that they purport to measure.

Which of the following proposals best responds to the issues raised by the author?

A．Innovative programmes using multiple approaches should be set up to reduce the level of unemployment.

B．A compromise should be found between the positions Of those who view joblessness an evil greater than economic control and those who hold the opposite view.

C．New statistical indices should be developed to measure the degree to which unemployment and inadequately paid employment cause suffering.

D．Consideration should be given to the ways in which statistics can act as partial causes of the phenomena that they purport to measure.

Which of the following proposals best responds to the issues raised by the author?

A．Innovative programmes using multiple approaches should be set up to reduce the level of unemployment.

B．A compromise should be found between the positions of those who view joblessness an evil greater than economic control and those who hold the opposite view.

C．New statistical indices should be developed to measure the degree to which unemployment and inadequately paid employment cause suffering.

D．Consideration should be given to the ways in which statistics can act as partial causes of the phenomena that they purport to measure.

Which of the following proposals best responds to the issues raised by the author?

A．Innovative programmes using multiple approaches should be set up to reduce the level of unemployment.

B．A compromise should be found between the positions of those who view joblessness an evil greater than economic control and those who hold the opposite view.

C．New statistical indices should be developed to measure the degree to which unemployment and inadequately paid employment cause suffering.

D．Consideration should be given to the ways in which statistics can act as partial causes of the phenomena that they purport to measure.