Which of the Following Is NOT Part of the Balance

question 60

Multiple Choice

Which of the following is NOT part of the balance of payments account?

• A) the current account
• B) the financial/capital account
• C) the official reserves account
• D) All of the above are BOP accounts.

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Definitions:

Model of Business Reporting

A framework or standard outlining the principles and requirements for presenting financial and non-financial information about a company's performance and position.

Financial Data

Information about financial transactions, assets, liabilities, revenues, and expenses of a business or individual.

Recognition Principles

The criteria and rules that govern when and how revenue and expenses are recognized in the accounting period they occur.

Expenses

Costs incurred by a business in the process of earning revenues, including operational costs, rent, utilities, and employee salaries.