Hoffman, Inc. adjusts its books each month but closes its books at the end of the year. The trial balance at March 31 before adjustments is as follows: DebitCredit

Cash$11,000

Accounts Receivable9,700

Supplies1,380

Prepaid Insurance3,440

Equipment30,600

Accumulated Depreciation: Equipment $12,240

Unearned Service Revenue 6,900

Capital Stock 5,600

Retained Earnings 23,800

Dividends1,640

Service Revenue Earned 19,590

Salaries Expense8,200

Utilities Expense470

Rent Expense1,700

$68,130$68,130

According to service contracts, $4,890 of the Unearned Service Revenue has been earned in March. The amount of Service Revenue Earned to be reported in the March income statement is:

a. $19,590

b. $24,480

c. $14,700

d. $23,690

This sentence is false.

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.