Looking forward to next year, if baldwin's current cash balance is $25,719,453 and cash flows from operations next period are unchanged from this period, which of the following activities will expose baldwin to the most risk of needing an emergency loan? retires $10,000,000 in long-term debt sells $10,000,000 of their long-term assets issues 10,000 shares of stock at the current stock price purchases assets at a cost of $25,000,000

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.