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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Definitions:

Membrane

A thin, soft, pliable layer of tissue that lines a tube or cavity, or covers an organ or structure.

Calculi

Hardened deposits of minerals and salts that form in the kidneys or other parts of the urinary tract.

Renal Stones

Hard deposits made of minerals and salts that form inside the kidneys, also known as kidney stones.

Kidney

An organ in vertebrates responsible for filtering waste products from the blood and excreting them as urine.