Which of the Following Statements About the Canadian Balance of Trade

question 96

Multiple Choice

Which of the following statements about the Canadian balance of trade is most accurate?

• A)It is the difference between merchandise exports and merchandise imports.
• B)It is the same as the current account balance.
• C)It typically is negative since Canada imports far more goods than it exports.
• D)It includes net stock transactions.

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Definitions:

Legal Fees Revenue

Income earned by businesses or individuals through providing legal services.

General Journal

A fundamental accounting ledger where financial transactions are initially recorded before being transferred to specific accounts in the ledger.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered on credit.

General Journal

A primary accounting record where financial transactions are initially recorded in chronological order.