Purchases of Foreign Assets by U

question 72

Multiple Choice

Purchases of foreign assets by U.S. residents are tabulated in the U.S. balance of payments as a:

• A) capital inflow.
• B) capital outflow.
• C) current account outflow.
• D) unilateral transfer.

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Definitions:

Sole Beneficiary

An individual or entity designated to receive the sole benefits from a will, trust, or insurance policy.

Undue Influence

The use of excessive pressure by the dominant member of a confidential relationship to convince the weaker party to enter a contract that greatly benefits the dominant party.

Durable Power of Attorney

A legal document that grants a trusted person the authority to act on behalf of another person in legal or financial matters, continuing or taking effect in the event of incapacity.

Incapacitating Illness

A severe health condition that significantly impairs a person's ability to perform ordinary daily activities.