Which Account in the Balance of Payments Records Transactions Involving

question 95

Multiple Choice

Which account in the balance of payments records transactions involving the export and import of goods and services?

• A)Current
• B)Foreign
• C)Internal
• D)Tariff
• E)Savings

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Definitions:

Joint Ownership

A form of property ownership in which two or more parties share ownership rights simultaneously.

Limited Partner

In a limited partnership, a partner who contributes capital to the partnership but has no right to participate in its management and has no liability for partnership debts beyond the amount of her or his investment.

Dissolution

The process of officially ending or dissolving a business, partnership, or marriage, along with the settling of its affairs.

Limited Partnership

A business structure where one or more partners are liable only up to the amount of their investments, while at least one other partner has unlimited liability.