Question

An American multinational enterprise buys insurance from a London insurance broker.

This is recorded on the U.S. balance of payments as_____, and on the British balance of payments as ____.

Group of answer choices

service: credit / service: debit

income: debit / income: credit

service: debit / service: credit

portfolio investments: credit / portfolio investments: debit

Answer 1

option c

This is recorded on the U.S. balance of payments as__service Debit___, and on the British balance of payments as __Service Credit__.