If a US Firm Exports $7,000 of Goods Which Are

question 47

Multiple Choice

If a US firm exports $7,000 of goods which are to be paid for within six months,using a double-entry bookkeeping system,what entries should be made in the US balance of payments?

• A)Goods export - credit of $7,000; Capital outflow - debit of $7,000
• B)Accounts Receivable - debit of $7,000; Inventory - credit of $7,000
• C)Goods export - debit of $7,000; Capital outflow - credit of $7,000
• D)Accounts Receivable - credit of $7,000; Inventory - debit of $7,000

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Definitions:

Spotlight Effect

The inclination to exaggerate the degree to which others observe and assess our looks, actions, and errors.

Defensive Self-Esteem

Self-esteem that is fragile and vulnerable, often leading individuals to react negatively to criticism or perceived threats.

Reciprocal Determinism

a concept in psychology that individuals and their behavior are shaped by the interaction between personal factors, their environment, and their behavior.

Defense Mechanisms

Psychological strategies unconsciously used by individuals to protect themselves from anxiety and to manage emotional conflict and internal or external stressors.