U.S.official Reserves Are

question 224

Multiple Choice

U.S.official reserves are

• A) equal to the value of the government's oil reserves.
• B) the government's holding of foreign currency.
• C) equal to the government's holding of gold.
• D) equal to the value of U.S.government debt in the hands of foreigners.
• E) equal to the balance on the capital account.

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Definitions:

Accounts Payable

Accounts payable is the amount a company owes to suppliers or vendors for goods or services received but not yet paid for, representing a short-term liability.

Gross Profit

The difference between sales revenue and the cost of goods sold, indicating the efficiency of a company in managing its production and labor costs.

Net Sales

The revenue generated from sales of goods or services after deducting returns, allowances, and discounts.

Cash Dividends

Distributions of earnings paid to shareholders in the form of cash.