A family from Toronto eats in a restaurant in Mexico City.In the accounting for Canadian international transactions,this transaction would appear in the _____,and it would be entered as a payment _____ foreigners.

Question

Quizplus · Accepted Answer

The transaction involving the family from Toronto eating in a restaurant in Mexico City falls under the current account in the Canadian international transactions as it is a day-to-day trade transaction involving goods and services. Since the family is paying money to foreigners (Mexican restaurant), the payment would be entered as "to" foreigners. Hence, the correct option is A.

A Family from Toronto Eats in a Restaurant in Mexico