In 2011, the Net Financial Account Balance Was Approximately

question 13

Multiple Choice

In 2011, the net financial account balance was approximately

• A)$790 billion.
• B)-$790 billion.
• C)$394 billion.
• D)-$394 billion.

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Definitions:

Cost Method

An accounting approach for investments, outlining that an investment is recorded at its acquisition cost, adjusting for any dividends received.

Deferred Tax Asset

An accounting term representing an asset that may be used to reduce any future tax liability originating from temporary timing differences between the accounting and tax treatment of transactions.

Deferred Tax Liability

Future tax obligations due to temporary differences between the accounting and tax treatment of transactions.

Tax Basis

The value of a taxpayer's investment in property for tax purposes, used to calculate gain or loss on a sale or transfer.