Testbank Multiple Choice Question 116 Crane Company traded machinery with a book value of $921440 and a fair value of $886000. It received in exchange from Wildhorse Co. a machine with a fair value of $1054340. Crane also paid cash of $105434 in the exchange. Wildhorse’s machine has a book value of $921440. What amount of gain or loss should Crane recognize on the exchange (assuming lack of commercial substance)? $3544 loss $105434 gain $35440 loss $ -0-

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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.