Suppose that increases in the money supply lead to a rise in stock prices. should you go out and buy stocks? a. you should buy stocks because you can expect to earn more than the equilibrium return on stocks by acting on the money supply information. b. you should buy stocks because the increase in the money supply should increase stock prices. c. you should not buy stocks because the rise in the money supply is publicly available information that will be already incorporated into stock prices. d. you should not buy stocks because bonds are always a better investment than stocks.

Alpine west, inc., operates a downhill ski area near lake tahoe, california. an all-day, adult ticket can be purchased for $55. adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season, which typically runs from december 1 through april 30. the season pass is nontransferable, and the $450 price is nonrefundable. alpine expects its season pass holders to use their passes equally throughout the season. the company’s fiscal year ends on december 31. on november 6, 2009, jake lawson purchased a season ticket. required: 1. when should alpine west recognize revenue from the sale of its season passes? 2. prepare the appropriate journal entries that alpine would record on november 6 and december 31. 3. what will be included in the 2009 income statement and 2009 balance sheet related to the sale of the season pass to jake lawson?