Asked by
Titus Winders
on Nov 12, 2024
Verified
Which of the following is a credit item in the U.S.balance of payments?
A) U.S.companies selling merchandise abroad
B) Foreign companies selling merchandise to U.S.consumers
C) U.S.consumers sending money to foreign companies
D) Immigrants to the United States sending money back to their families in their native countries
E) Immigrants to the United States sending gifts back to their families in their native countries
Credit Item
An entry that increases the balance of a firm's or individual's account in financial statements.
Balance of Payments
A record of all financial transactions made between a country and the rest of the world over a specific period.
- Distinguish between credit and debit items in the balance of payments.
Verified Answer
CN
Learning Objectives
- Distinguish between credit and debit items in the balance of payments.