In Basic Terms,the Current Account Is Equal to

question 2

Multiple Choice

In basic terms,the current account is equal to

• A)imports plus exports.
• B)savings minus consumption.
• C)exports minus imports.
• D)savings plus exports.

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Definitions:

Realized Gross Profit

The gross profit that is actually earned and recognized on sales transactions, after the cost of goods sold has been deducted.

Cash Collections

The process of gathering and managing the cash from sales, financing, or other sources of revenue for a business.

Revenue Recognition

The accounting standard that identifies the exact circumstances where revenue is considered or documented.

Percentage of Completion

Percentage of completion is an accounting method used to recognize revenue and expenses of long-term projects proportionally to the work completed.