Asked by
kennedy Craig
on Nov 12, 2024Verified
The value of a country's exports is listed in its balance of payments account as a(n) _____.
A) credit
B) debit
C) payment
D) investment
E) unilateral transfer
Balance of Payments
A record of all economic transactions between the residents of a country and the rest of the world within a certain period.
Exports
Products or services transferred from one nation to another for the purpose of sale or exchange.
Debit
An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.
- Distinguish between credits and debits in the balance of payments' accounting.
Verified Answer
JT
Learning Objectives
- Distinguish between credits and debits in the balance of payments' accounting.