Which statement is true? 1) The balance of payments depends on the principle of double-entry accounting. 2) Decrease in assets and increase in liabilities of net worth represent credits or sources of funds. 3) The balance of payment is a source- and uses of funds statement that reflects changes in assets, liabilities and net worth during a specified period of time. A. Only 1 B. Only 2 C. Only 3 D. 1, 2 and 3

Which statement is true?
1) The balance of payments depends on the principle of double-entry accounting. 2) Decrease in assets and increase in liabilities of net worth represent credits or  sources of funds.
3) The balance of payment is a source- and uses of funds statement that reflects  changes in assets, liabilities and net worth during a specified period of time. A. Only 1
B. Only 2
C. Only 3
D. 1, 2 and 3
by

1 Answer

Answer :

D. 1, 2 and 3
by

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