Which of the Following Balance-Of-Payment Accounts Records One-Time Changes in the Stock

question 96

Multiple Choice

Which of the following balance-of-payment accounts records one-time changes in the stock of assets?

• A) Capital account
• B) Current account
• C) Financial account
• D) Monetary account

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Definitions:

Actual Cost

The actual expenses and costs incurred in acquiring or producing a product or offering a service.

Accounts Payable

Accounts payable is the amount of short-term debt or money owed to suppliers and creditors by a company for goods and services purchased on credit.

Accounts Receivable

The funds that a company is entitled to collect from its customers for goods provided or services rendered but not yet paid.

Equipment

Tangible property used in operations, which is not intended for sale, often with a useful life exceeding one year and subject to depreciation.