1.
All ....... the world, cellular telephones are being used more and more.
2.
Cell phones are hand- ....... devices; they are also called wireless or mobile phones.
3.
Cell phones are ....... with users because they are small, light and easily transported.
4.
Cellular telephones are actually little different than two- ....... radios.
5.
A caller speaks into a cell phone, and it picks ....... his or her voice, transforming the sound into radio waves.
6.
Then these radio waves are transmitted through the atmosphere until they meet a ....... base station.
7.
The station sends your phone call ....... the standard telephone network, where it eventually reaches the
receiver.
8.
Cell phones provide a vast array of ....... these days, and new ones are being added all the time.
9.
When someone calls you, your cell phone receiver ....... radio waves sent out by the base station.
10.
Inside your cell phone, these waves are converted ....... into the sound of the caller's voice.
11.
According to NAREIT (Yungmann and Taube, 2001), property insurance coverage should be based on fair value, i.e., valuing assets at their current market values — actual, if available, or ......., if not.
12.
Much of the fair value debate has had a technical focus on how to place fair values on assets for which no market values ........
13.
While the technical issues are important, the real driver should be improving ....... for users of financial statements.
14.
A single global standard will increase the ....... of financial presentations, which currently vary considerably.
15.
A comprehensive standard ....... comparability across all types of financial institutions.
16.
When accounting values for assets ....... from their underlying market values, some managements take
uneconomic actions to protect accounting performance measures.
17.
For example, during the U.S. savings and loan crisis in the 1980s, many institutions ....... assets with market values above book and continued to hold assets with book values above market.
18.
In hindsight, users of their financial statements were not well served by the accounting system ....... at the time.
19.
Fair value ....... argue that measuring financial assets as close as possible to their true underlying economic values removes these perverse incentives.
20.
Users would also benefit from a clearer picture of the economic ....... of the enterprise.
