The accounting statement that summarizes all the economic transactions between residents of the home country and residents of all other countries is called the

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The balance of payments statement provides a summary of all economic transactions between a country and other countries, including trade in goods and services, financial transactions, and transfers of money. The current account balance and capital account balance are both components of the balance of payments statement. The balance of trade is a subset of the current account balance and only refers to trade in goods.

The Accounting Statement That Summarizes All the Economic Transactions Between