Skippers Landing sells boats and provides mooring facilities for its customers. Skippers Landing sells the boats for $60,000 each and provides mooring facilities for $10,000 per year. It concludes that the goods and services are distinct and accounts for them as separate performance obligations. Skippers Landing enters into a contract to sell a boat and one year of mooring services to a customer for $65,000. Required: How should Skippers Landing allocate the transaction price of $65,000 to the performance obligations

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.