The Account That Shows International Transactions Involving Financial Transactions (Stocks,bonds,bank

question 20

Multiple Choice

The account that shows international transactions involving financial transactions (stocks,bonds,bank loans,etc.) is called the

• A) trade balance.
• B) current account.
• C) balance of payments.
• D) capital account.

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Definitions:

Warranty of Authority

An assurance given by an agent that they have the actual authority to act on behalf of the principal, protecting the third party in contractual agreements.

Sole Proprietorships

A business structure where a single individual owns and operates the business, taking full responsibility for its debts and obligations.

Business Registration

The process of officially recording a new business with the relevant governmental authority.

Express or Implied Agreement

A mutual understanding between parties to a contract where terms are specifically stated (express) or suggested by actions or circumstances (implied).