Which of the Following Statements Is Incorrect with Respect to the Balance

question 33

Multiple Choice

Which of the following statements is incorrect with respect to the balance of payments?

• A)It constitutes a record of transactions between residents within one country.
• B)It consists of a current account, a capital account, and an account to record omissions and errors.
• C)Transactions that result in a demand for domestic currency are always entered as a credit.
• D)It must balance in the aggregate, but separate accounts can show deficits or surpluses.
• E)It constitutes a record of a country's trade in goods and services and financial assets.

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