Double Entry Accounting, with Respect to Calculation of Balance of Payments

question 39

Multiple Choice

Double entry accounting, with respect to calculation of balance of payments calculation, means:

• A)the balance of payments statement must always balance because total debits must equal total credits.
• B)the balance of payments statement will always favor the larger nation.
• C)the balance of payments statement will always favor the smaller nation.
• D)the balance of payments statement will never be in complete balance.
• E)the balance of payments statement will rarely be accurate.

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