A record of all transactions between residents of the reporting country and residents of the rest of the world over a period of time is called the:

Question

Quizplus · Accepted Answer

The balance of payments accounting system records all transactions between residents of a country and residents of the rest of the world, including goods, services, income, and financial flows. The national income product accounts and accrual accounting system are not specifically focused on international transactions.

A Record of All Transactions Between Residents of the Reporting