For Any Country, Net Exports Are Always Equal to Net

question 19

True/False

For any country, net exports are always equal to net capital outflow because every international transaction involves an exchange of an equal value of some combination of goods and assets.

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Definitions:

Net Income

The conclusive financial gain of a company upon subtracting every expense and tax from its total sales revenue.

Owner Drawings

Withdrawals of cash or other assets from a company by the owner for personal use.

Revenue

The total income generated by a business from its normal business operations.

Post-Closing Trial Balance

A list of all accounts and their balances after closing entries are made, used to check the equality of debits and credits and prepare for the next accounting period.