Concord Industries collected $105,000 from customers in 2019. Of the amount collected, $25,300 was for services performed in 2018. In addition, Concord performed services worth $39,000 in 2019, which will not be collected until 2020. Concord Industries also paid $73,800 for expenses in 2019. Of the amount paid, $29,800 was for expenses incurred on account in 2018. In addition, Concord incurred $42,100 of expenses in 2019, which will not be paid until 2020. (a) Compute 2019 cash-basis net income. Cash-basis net income $enter the cash-basis net income

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.