The Balance of Payments Includes Which Three Accounts

question 106

Multiple Choice

The balance of payments includes which three accounts?

• A)the current account, the financial account, and the capital account
• B)the capital flows account, the financial account, and the trade account
• C)the net investment account, the net exports account, and the net transfers account
• D)the balance of trade account, the net foreign investment account, and statistical discrepancy
• E)the capital account, the official settlements account, and the current account

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Definitions:

Risk Of Loss

Refers to the legal responsibility regarding who bears the cost of damage, destruction, or theft of goods during a transaction or after it, until delivery.

F.O.B. Seattle

A commercial term indicating that the seller of goods is responsible for them until they are loaded on board a shipping vessel in Seattle, at which point the buyer assumes risk and responsibility.

Shipment Contract

A type of agreement in sales law where the seller is responsible for delivering goods to a carrier, after which the risk of loss passes to the buyer.

Entrusted

Given over to another's care or protection, often relating to property or duties.