What Are the Two Key Terms of the Business Cycle

question 55

Multiple Choice

What are the two key terms of the business cycle?

• A) contraction and expansion
• B) inflation and recession
• C) trend and random variation
• D) inflation and deflation

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Definitions:

Partial Payments

Payments made towards a debt or invoice that are less than the total amount due at the time.

Sales Transaction

The process of exchanging goods or services for money, constituting a business activity that generates revenue.

Create Purchase Order

The process of generating a document to officially request goods or services from a supplier, outlining the types, quantities, and agreed prices for products or services.

Make Deposits

The process of adding funds to a bank account, often facilitated by banking or financial software.