In Explaining Balance-Of-Payments Adjustments,the Classical Economists

question 58

Multiple Choice

In explaining balance-of-payments adjustments,the classical economists

• A) Focused on interest rates exclusively
• B) Remained aware of the role of interest rates
• C) Only focused their attention on short-term interest rates
• D) Paid exclusive attention to long-tem interest rates

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Definitions:

General Ledger

The general ledger is the primary accounting record of a company that uses double-entry bookkeeping, summarizing all transactions into accounts for financial statements.

Allowance for Doubtful Accounts

a contra-asset account that estimates the portion of accounts receivable that may not be collectible.

Trade Receivables

Trade receivables are amounts owed to a business by its customers resulting from the sale of goods or services on credit.

Sales Transactions

These are dealings or agreements carried out between two parties, where goods or services are exchanged for money or other considerations.