The balance of payments report is recorded using the rules of double-entry accounting and most closely resembles a(n) ______________.
A) Income statement.
B) Balance sheet.
C) Flow of funds statement.
D) Statement of retained earnings.
E) Bank statement.

Question

Quizplus · Accepted Answer

The balance of payments report is a flow of funds statement as it records all economic transactions between residents of a country and the rest of the world over a period of time, similar to how a flow of funds statement tracks the movement of money.

The Balance of Payments Report Is Recorded Using the Rules