Question
A Russian company receives consulting for $20.000 from a Turkish company and makes the payment in cash through SWIFT bank transfer. How would this transaction
A Russian company receives consulting for $20.000 from a Turkish company and makes the payment in cash through SWIFT bank transfer. How would this transaction be recorded on the Turkey's BOP?
a. 20.000 credit to Current Account (Service) and 20.000 debit to Financial Account (Other Investment-Assets-Receivables).
b. 20.000 credit to Current Account (Service) and 20.000 debit to Financial Account (Other Investment-Assets-Currency/Deposits).
c. 20.000 credit to Current Account (Service) and 20.000 debit to Current Account (Transfer Payments).
d. 20.000 credit to Financial Account (Other Investment-Assets-Currency/Deposits) and 20.000 debit to Current Account (Service)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Auditing Markets Products And Marketing
Authors: David Parmerlee
1st Edition
0658001337, 978-0658001338
