The Largest Single Component of the United States Current Account

question 33

Multiple Choice

The largest single component of the United States current account is:

• A) current transfers.
• B) income payments and receipts.
• C) goods (merchandise) imports and exports.
• D) services imports and exports.

Understand the practical applications of motivation theories in everyday behaviors and decisions.

Recognize the role of instincts in behavior according to psychological theories.

Explain Maslow's hierarchy of needs and its impact on human motivation.

Understand the influence of external stimuli on motivation and behavior.

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Definitions:

Purchases Journal

A specialized accounting journal used to record all purchases of merchandise, inventory, and other items on credit.

Accounts Payable

Accounts payable is the amount of money a company owes to its suppliers or creditors for goods and services purchased on credit.

Inventory

Raw materials, work-in-process products, and finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.

Sales Journal

A dedicated financial ledger designed for documenting all credit sales transactions.