Question

The balance of payments on the financial account are transactions that comprise the buying or selling of "LOAN ABLE FUNDS", that create "NATIONAL DEBT".

Answer 1

The balance of payments summarizes an economy's economic transactions with the rest of the world, So the given statement is true.

What is balance of payments?

• The Balance of Payments (BOP) is an accounting statement that summarizes (measures) all economic transactions between residents of one's home country and the rest of the world over a given time period.

• The balance of payments summarizes an economy's economic transactions with the rest of the world. Exports and imports of goods, services, and financial assets, as well as transfer payments, are examples of these transactions (like foreign aid).

• The balance of payments accounts can be shown in two columns in a ledger. Credit entries are recorded in one column. The second column is where debit entries are recorded.

• The BOP is divided into three accounts: the current account, the capital account, and the financial account.

The complete question :

" The balance of payments on the financial account are transactions that comprise the buying or selling of "LOAN ABLE FUNDS", that create "NATIONAL DEBT". State true or false."

To learn more about balance of payments refer to :

https://brainly.com/question/14762484

#SPJ4