Author Question: The balance of payments is an accounting statement known as a: a. trial balance. b. depreciation ... (Read 103 times)

tfester · **on:** Jun 30, 2018

The balance of payments is an accounting statement known as a:
a. trial balance.
b. depreciation account.
c. balance sheet.
d. trade account.
e. reconciliation statement.

Question 2

Which of the following will be recorded as a debit entry in the balance of trade in merchandise account?
a. A U.S. car manufacturer selling a car to a resident of India.
b. A pub owner in Liverpool importing vodka from a U.S. manufacturer.
c. A U.S. textile manufacturer buying rawmaterial from farmers in Indonesia.
d. A Chinese car manufacturer importing car engines and other spare parts from a U.S. manufacturer.
e. A fashion designer from Michigan exporting readymade garments to a dealer in Copenhagen.