A Country's Balance of Payments Is the Sum of the _____

question 28

Multiple Choice

A country's balance of payments is the sum of the _____, and the balance:

• A) current account and the capital account; can be positive, negative, or zero.
• B) trade balance and the capital balance; can be positive or negative.
• C) current account and the capital account; will equal zero.
• D) trade balance and the capital balance; will equal zero.

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Definitions:

Cost Of Goods Sold

The immediate expenses directly related to creating a company's sold products, covering both labor and materials costs.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, after all sales and purchases have been accounted for.

Accounting Period

A specific time frame for which financial statements are prepared, to measure the performance and financial position of a business.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from revenue, indicating the company's financial performance over a specific period.