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A U . S . citizen buys a newly issued share of stock in England, paying for this order with a check, which the British
A US citizen buys a newly issued share
of stock in England, paying for this order with a check, which
the British company deposits in its own US bank account in New York.
When one records the above transactions in the American balance of payment accounts, the British
companys deposit will be recorded as a debit in the US financial account
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