The Account That Records the Receipts from Exports of Goods

question 121

Multiple Choice

The account that records the receipts from exports of goods and services sold abroad, the payments for imports of goods and services from abroad, net interest income paid abroad, and net transfers is the ________.

• A)international capital account
• B)current account
• C)official settlements account
• D)capital and financial account

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Definitions:

Kilowatt-Hour

A unit of energy equivalent to one kilowatt of power expended for one hour, used to measure electricity consumption.

Property Taxes

Taxes levied by local governments based on the assessed value of real estate property owned by individuals or businesses.

Fixed Cost

A cost that does not change with an increase or decrease in the quantity of goods or services produced or sold.

Accounting Salaries

The wages or salaries paid to employees working in the accounting department, reflecting the cost associated with managing financial records and reports.