Blanchard Chocolatier imports Swiss chocolate into the U.S. This is reflected as a debit entry in the U.S. balance of payments.

Name: Blanchard Chocolatier imports Swiss chocolate into the U.S. This is reflected as a debit entry in the U.S. balance of payments.
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Question

Quizplus · Accepted Answer

Imports are recorded as debits in the balance of payments because they represent money flowing out of the country to purchase foreign goods, in this case, Swiss chocolate.

Blanchard Chocolatier Imports Swiss Chocolate into the U