Which of the Following Would Call for Outpayments from the United

question 191

Multiple Choice

Which of the following would call for outpayments from the United States?

• A) The United States exports computer software.
• B) The United States purchases assets abroad.
• C) Foreigners purchase assets in the United States.
• D) Foreign tourists spend money in the United States.

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Definitions:

Post-Closing

The final phase in the accounting cycle where accounts are prepared for the start of the next period, following the closing entries are made to reset temporary accounts.

Adjusted Trial Balance

A statement listing all accounts and their balances after adjustments, used to verify the equality of debits and credits before preparing financial statements.

Unadjusted Trial Balance

A preliminary list of all accounts and their balances used in accounting, before any adjustments are made for the closing entries.

Working Capital

The difference between a company's current assets and current liabilities, indicating the liquidity and operational efficiency.