The record of all payments received from foreign countries and all payments made to them is called the
A) capital account.
B) trade balance.
C) balance of payments.
D) current account.

Question

Quizplus · Accepted Answer

The balance of payments is a record of all financial transactions made between a country and the rest of the world. It includes the capital account, current account, and financial account. The current account specifically records transactions related to imports and exports of goods and services, as well as income received from and payments made to foreign countries. Therefore, the correct answer is C.

The Record of All Payments Received from Foreign Countries and All