An American tourist purchases a leather jacket while in Italy. Which of the following statements...
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Accounting
An American tourist purchases a leather jacket while in Italy. Which of the following statements is TRUE? *
The leather purchase would be considered an import for the U.S. BOP.
This transaction would be properly accounted for in the Current Account of the U.S. BOP.
All of these statements are true.
The leather purchase is considered an import of a good, and thus, considered part of the balance of trade as well.
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