BALANCE OF PAYMENTS / BALANCE OF TRADE Definition

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BALANCE OF PAYMENTS / BALANCE OF TRADE is the difference between a countrys total export dollar value and its total import dollar value, generally or with respect to a particular trading partner. A positive balance means a net inflow of capital, while a negative means capital flows out of the country.

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BALANCED SCORECARD (BSC) is a strategic management system based upon measuring key performance indicators across all aspects and areas of an enterprise: Financial, Customer, Internal Process, and Learning and Growth.

IAAA is Inter-American Accounting Association.

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