Question

Suppose JoePir, Incorporated imported $500,000 worth of Belgian chocolate to be resold in stores located throughout the United States. The value of this transaction is recorded in the:

Answer 1

Answer:

The correct answer is "recorded in the current account"

Explanation:

The current account is a great indicator of an economy's strength. It records the national transactions with the rest of the world, it trades goods and services and refers to exports minus imports, in other words, net current transfers over a defined period of time.