Concerning the Balance-Of-Payments, a Current Account Surplus Means an Excess

question 147

True/False

Concerning the balance-of-payments, a current account surplus means an excess of exports over imports of goods, services, investment income, and unilateral transfers.

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Definitions:

Faithful Representation

A qualitative characteristic of financial information that ensures the information depicts the economic phenomenon it intends to represent, without error or bias.

Fair Value

The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.

Going Concern

The assumption that a company will continue in operation for the foreseeable future.