On july 1, 2020, agincourt inc. made two sales. 1. it sold land having a fair value of $700,000 in exchange for a 4-year zero-interest-bearing promissory note in the face amount of $1,101,460. the land is carried on agincourt's books at a cost of $590,000. 2. it rendered services in exchange for a 3%, 8-year promissory note having a face value of $400,000 (interest payable annually).
record the two journal entries that should be recorded by agincourt inc. for the sales transactions above that took place on july 1, 2020.

The third one is true. 0.3 > 0.20

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

The correct answer is "c. a limited partnership without a general power".