If your company were to import and export textiles, the transactions would be recorded in the current account subcategory of:
A) services trade.
B) income trade.
C) goods trade.
D) current transfers.

Question

Quizplus · Accepted Answer

Textiles are classified as goods, and importing and exporting goods falls under the category of goods trade in the current account. Services trade refers to the exchange of intangible services, such as tourism or consulting, while income trade includes transactions related to investments and employment. Current transfers refer to gifts or aid provided by one country to another.

If Your Company Were to Import and Export Textiles, the Transactions