The following revenue and expense account balances were taken from the Income Statement columns of the end-of-period spreadsheet for Fraser Services Co. for December 31: Accounts
Amount
Depreciation Expense $4,950
Insurance Expense 2,900
Miscellaneous Expense 1,200
Rent Expense 24,000
Service Revenue 92,500
Supplies Expense 3,150
Utilities Expense 5,000
Wages Expense 63,750
prepare an income statement.

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.

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