Analyst Questions

Revenue should be recognized when it is realized or when it is earned. When a service is performed something is earned and revenue should be recognized.

There are basically two important phases in a business cycle that are prosperity and depression. The other phases that are expansion, peak, trough and recovery are intermediary phases.

Expansion is a phase in which, when the economy moves from a trough to a peak. It is a period when the level of business activity surges and gross domestic product (GDP) expands until it reaches a peak.

The Treaty of Versailles was designed mostly to punish Germany, reflecting the bitter and vengeful feelings that Britain and France felt towards their World War I enemy.

It took away the German empire by seizing its colonies, and it limited the German Army to a 100,000 man security force.

Capitalism is an economic system in which private individuals or businesses own capital goods i.e, economy is characterized by private ownership of the means of production. The production of goods and services is based on supply and demand in the general market known as a market economy and not on central planning known as a planned economy.

Enola Gay.

Microeconomics deals with the 

* Allocation of resources of the economy as between production of different goods and services.

* Determination of prices of goods and services.

* Behavior of industrial decision makers.