The Table Contains Hypothetical Data for the U

question 254

Multiple Choice

$$\begin{array} { | l | c | } \hline \text { (1) US Goods Exports } & + \$ 100 \\\hline \text { (2) US Goods Imports } & - 80 \\\hline \text { (3) US Service Exports } & + 40 \\\hline \text { (4) US Service Imports } & - 90 \\\hline \text { (5) Net Investment Income } & + 20 \\\hline \text { (6) Net Transfers } & - 15 \\\hline \text { (7) Foreign Purchases of Assets in the United States } & + 30 \\\hline \text { (8) US Purchases of Foreign Assets Abroad } & - 10 \\\hline \text { (9) Balance on Capital Account } & + 5 \\\hline\end{array}$$ The table contains hypothetical data for the U.S. balance of payments. All ?gures are in billions of dollars. The U.S. balance on goods and services is a

• A) $10 billion de?cit.
• B) $20 billion de?cit.
• C) $30 billion surplus.
• D) $30 billion de?cit.

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Definitions:

Bank Reconciliation

The act of reconciling the cash account balances recorded in an organization's bookkeeping with the related data found on a bank statement.

Deposits in Transit

Funds that have been received and recorded by a business but not yet processed by the bank.

Service Charges

Fees charged to customers for specific services or as penalties for not meeting certain criteria such as minimum account balance requirements.

Internal Control Procedure

Processes undertaken by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.