On july 1 of the current calendar year. olive co paid 7700 cash for management services to be performed over a two year period beginning july 1. olive follows a policy of recording all prepaid expenses to asset accounts at the time of cash payment. the adjusting entry on december 31 of the current year for olive would include

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.

If u don't know the answer, always guess "c"