Which of the Following Is Included in a Nation's Current

question 87

Multiple Choice

Which of the following is included in a nation's current account?

• A)Purchases of foreign assets
• B)Borrowing from abroad
• C)Foreign purchases of U.S.financial assets
• D)Investment income receipts
• E)Purchases of foreign real property

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Definitions:

Accounts Receivable Control

Practices and procedures in place to monitor and manage the amounts owed to a business by its customers for goods or services delivered on credit.

Subsidiary Ledger

A detailed ledger that contains supporting information for a main accounting ledger, often used for accounts receivable or accounts payable.

Cash Receipts Journal

An accounting ledger in which all cash inflows or receipts are recorded.

Accounts Payable Subsidiary

A detailed ledger containing all individual creditor accounts, supporting the summary-level accounts payable figure in the general ledger.