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.

According to the civil rights act 1964, the civil rights became part of the US constitution.

The Gulf of Tonkin Incident, in 1964, was a major turning point in United States military involvement in Vietnam. The Gulf of Tonkin Incident occurred in August 1964.

Black Power Movement can be termed as a cultural revolution that changed African American’s view about blackness. This movement encouraged them to be proud of their history, culture, and identity and celebrate their uniqueness.

The cultural influence came from the black power movement is Pride in Blackness.

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.

Demand curve is the relationship between price and quantity of product. In perfect competition, the demand curve for the product by a firm is perfectly elastic at maket price.