All of the Following Would Be Considered a Current Account

question 209

Multiple Choice

All of the following would be considered a current account transaction EXCEPT the

• A) importing of services.
• B) exporting of goods.
• C) importing of capital.
• D) importing of goods.

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Definitions:

Dividend Income

Money that a company pays to its shareholders out of its profits.

AMT Income

Alternative Minimum Tax (AMT) income is a method of calculating taxable income according to parallel tax rules to ensure that certain taxpayers pay at least a minimum amount of tax.

Corporation

A legal entity recognized by law as separate from its owners, capable of holding assets, incurring liabilities, and conducting business.

FMV

Fair Market Value (FMV) refers to the price at which an asset would sell in the marketplace under conditions where both buyer and seller have reasonable knowledge of the asset and are willing to trade without external pressures.