Balance of Payments

question 69

Multiple Choice

Balance of payments

• A)is defined as the statistical record of a country's international transactions over a certain period of time presented in the form of a double-entry bookkeeping.
• B)provides detailed information concerning the demand and supply of a country's currency.
• C)can be used to evaluate the performance of a country in international economic competition.
• D)all of the above

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Definitions:

Accounts Payable

Liabilities reflecting money owed by a business to its suppliers or creditors for goods and services purchased on credit.

Creditor

An individual or institution that lends money or extends credit to another entity.

Interim Statements

Financial statements prepared for a period shorter than a financial year, typically quarterly or semi-annually, to provide a more immediate financial status of the company.

Insurance

A financial product that provides protection against financial losses from specified risks, such as accidents, theft, or natural disasters.