The US Balance of Payments for 2010 Shows ________

question 42

Multiple Choice

The U.S. balance of payments for 2010 shows ________.

• A) that automobiles and auto parts were the largest component of U.S. merchandise exports
• B) the leading import for the U.S. was consumer electronics
• C) the U.S. had a negative balance on services trade
• D) the U.S. exports more goods to its major trading partners than it imports

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Definitions:

Accounting Firm

A business that offers a wide range of accounting services to individuals and companies, including audit, tax preparation, and financial consulting.

Auditing Services

Professional services that systematically review and assess the accuracy of financial records and statements of an organization.

Non-Auditing Services

Professional services provided by an accounting firm that do not involve the examination of financial records or statements for the purpose of expressing an opinion on their fairness.

Felony

A felony is a serious crime usually punishable by imprisonment for more than one year or by death. Examples include murder, arson, and burglary.