The Term ʺBusiness Cycleʺ Most Closely Refers to the

question 306

Multiple Choice

The term ʺbusiness cycleʺ most closely refers to the

• A) alternating periods of expansions and recessions.
• B) accounting period used by firms.
• C) fluctuating profits of firms.
• D) fiscal year.

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Definitions:

Goods In Process Inventory

Partially finished goods that are still in the production process at the end of an accounting period.