The Difference Between the Payments and Receipts from International Transactions

question 156

Multiple Choice

The difference between the payments and receipts from international transactions in assets is represented in the

• A)official financing account.
• B)trade balance.
• C)capital account balance.
• D)current account balance.
• E)merchandise account.

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Definitions:

Stockholders' Equity Accounts

These accounts represent the owners' residual interest in the corporation's assets after deducting liabilities.

Credit Balances

Accounts within the accounting ledger that have a positive balance, indicating amounts owed to others.

Trial Balance

A list of all accounts with their balances to provide a check on the equality of the debits and credits.

Balance Sheet

A financial statement that presents a company’s assets, liabilities, and shareholders’ equity at a specific point in time, showing the company’s financial condition.