Which One of the Following Items Appears on a Balance

question 46

Multiple Choice

Which one of the following items appears on a balance sheet?

• A)Accounts payable
• B)Sales revenue
• C)Utilities expense
• D)Cost of goods sold

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Definitions:

Current Account

A component of a country's balance of payments that measures the balance of trade in goods and services plus net earnings from abroad and net transfer payments over a period of time.

Net Unilateral Transfers

Financial flows from one country to another that are not reciprocated, typically covering aid, grants, and remittances.

Financial Account Surplus

A situation where the incoming financial resources (like foreign investments) into a country exceed the resources flowing out of the country.

British Pound

The official currency of the United Kingdom, also known as Sterling, used across the UK and its territories.