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Financial Account
A component of the balance of payments that records transactions that cause a change in ownership of financial assets and liabilities between residents and non-residents.
Balance Surplus
The amount by which income exceeds expenditures in a budget, or the excess of receipts over payments in an account.
Balance Deficit
A financial situation where expenditures exceed revenue over a specific period, often used in the context of government budgets.
Current Account Items
Transactions that involve the trade of goods and services, income from foreign investments minus payments made to other countries, and cash transfers, within a country's balance of payments.
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