The Reserve Account of the Balance of Payments Records

question 12

Multiple Choice

The reserve account of the Balance of Payments records:

• A)the stock of foreign exchange held by the government
• B)changes in foreign exchange reserves held by the government
• C)the stock of gold held by foreign governments
• D)changes in foreign exchange reserves held by foreign governments

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Definitions:

Amortization Expense

An operating expense on the income statement relating to intangible assets.

Ordinary Maintenance

Ordinary maintenance refers to the routine tasks and repairs carried out regularly to keep equipment or buildings in working condition.

Field Slaves

Individuals subjected to slavery who worked primarily in the fields, performing hard manual labor under often harsh conditions in agricultural production.

House Slaves

Enslaved individuals who worked inside the homes of their masters, performing domestic tasks, during periods of slavery.