Balance of Payments Between Nations Is Based on Which of the Following

question 53

Multiple Choice

Balance of payments between nations is based on which of the following principles of accounting?

• A)Debit only.
• B)Credit only.
• C)Factor analysis.
• D)First in, last out.
• E)Double entry accounting.

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Definitions:

Creditors

Individuals or institutions that lend money or extend credit, and are thus owed repayment by the borrower or debtor.

Just-In-Time Inventory

An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

Inventory Levels

A measure of the quantity of goods and materials on hand in a business at any given time.

Planning

The process of defining goals, establishing strategies, and outlining tasks and schedules to achieve the goals.