If a resident of Japan purchases an insurance policy from the U.S.insurance company Progressive, which of the following entries would be the result?

Question

Quizplus · Accepted Answer

When a resident of Japan purchases an insurance policy from a U.S. insurance company, it is considered an export of services from the U.S., and hence a credit will be recorded in the U.S. service account.

If a Resident of Japan Purchases an Insurance Policy from the U.S.insurance