What Term Is Used to Describe the Lowest Point of a Business

question 393

Multiple Choice

What term is used to describe the lowest point of a business cycle?

• A) peak
• B) trough
• C) expansion
• D) recession

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Definitions:

Recognized Gain

The portion of a gain on the sale of an asset that must be reported as income for tax purposes.

Divorce Agreement

A legal document that outlines the terms agreed upon by partners during a divorce, including division of assets, child support, and alimony.

Educational Loan Interest

Interest paid on a loan taken out to pay for educational expenses. This interest can sometimes be deducted from taxable income.

Qualified Education Loans

These are loans obtained solely to pay for educational expenses that are qualified and necessary, including tuition, room, board, and books.