If a Canadian resident receives an inheritance of $1 million from a relative in the U.S. and then takes the $1 million and buys U.S. government bonds with the money how would this be recorded in the US Balance of payments according to IMF standards? OA debit in the Financial Account (other) for the inheritance and a credit in the Financial Account (portfolio) for the bonds A credit in the Capital Account (other) for the inheritance and a debit in the Financial Account (portfolio) for the bonds OA debit in the Capital Account (other) for the inheritance and a credit in the Financial Account (portfolio) for the bonds OA credit in the Financial Account (other) for the inheritance and a debit in the Financial Account (portfolio) for the bonds None of the above
If a Canadian resident receives an inheritance of $1 million from a relative in the U.S. and then takes the $1 million and buys U.S. government bonds with the money how would this be recorded in the US Balance of payments according to IMF standards? OA debit in the Financial Account (other) for the inheritance and a credit in the Financial Account (portfolio) for the bonds A credit in the Capital Account (other) for the inheritance and a debit in the Financial Account (portfolio) for the bonds OA debit in the Capital Account (other) for the inheritance and a credit in the Financial Account (portfolio) for the bonds OA credit in the Financial Account (other) for the inheritance and a debit in the Financial Account (portfolio) for the bonds None of the above
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:If a Canadian resident receives an inheritance of $1 million from a relative in the U.S. and
then takes the $1 million and buys U.S. government bonds with the money how would
this be recorded in the US Balance of payments according to IMF standards?
OA debit in the Financial Account (other) for the inheritance and a credit in the Financial Account
(portfolio) for the bonds
A credit in the Capital Account (other) for the inheritance and a debit in the Financial Account
(portfolio) for the bonds
OA debit in the Capital Account (other) for the inheritance and a credit in the Financial Account
(portfolio) for the bonds
OA credit in the Financial Account (other) for the inheritance and a debit in the Financial Account
(portfolio) for the bonds
None of the above
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