Assuming All Transactions Are Recorded, If the United States Has

question 3

Multiple Choice

Assuming all transactions are recorded, if the United States has an overall deficit (-) in its current account, what is the implication for the balances of the other accounts (capital and financial) ?

• A) Added (FA + KA), they must be in surplus (+) by exactly the same amount.
• B) Their difference (FA - KA) is equal to the deficit (-) in the current account.
• C) Added (FA + KA), they will be in deficit by exactly the same amount.
• D) Their difference (FA - KA) must be equal to zero.

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Definitions:

Parol Evidence Rule

A legal principle that prevents parties in a written contract from presenting external evidence that contradicts or adds to the written terms of the contract.

Written Contract

An agreement between parties that is recorded in a tangible form on paper or digitally, detailing the terms and conditions bound by law.

Subsequent

Pertaining to events or actions that occur after a specified point in time.

Statute of Frauds

A legal principle requiring certain contracts, such as those for the sale of land or goods over a certain value, to be in writing and signed by the party to be charged to be enforceable.