Balance of Payments Quiz
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Questions and Answers

What is the primary purpose of the balance of payments?

  • To measure the total value of goods and services produced within a country
  • To track the government's budget surplus or deficit
  • To record all financial transactions between a country's residents and the rest of the world (correct)
  • To determine the inflation rate in a country

    • Which component of the balance of payments measures the flow of money due to international trade in goods and services?

  • Current account (correct)
  • Official reserve account
  • Capital account
  • Financial account

    • In the context of balance of payments, what does a surplus in the financial account indicate?

  • The country is importing more than it is exporting
  • The country's government is borrowing funds from international organizations
  • The country's central bank is selling its foreign currency reserves
  • The country is experiencing a net inflow of foreign investment (correct)

    • In the context of non-profit organizations, which of the following best describes the term 'endowment'?

    <p>A financial asset earmarked for the long-term support of the organization's mission</p> Signup and view all the answers

    Which financial statement is used by non-profit organizations to disclose their revenue, expenses, and changes in net assets over a specific period?

    <p>Statement of Activities</p> Signup and view all the answers

    What is the term used to describe a non-profit organization's ability to cover its operating expenses with its unrestricted revenue?

    <p>Fiscal sustainability</p> Signup and view all the answers

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