In order to meet the consideration requirement, the legal detriment suffered by each party must have been given in exchange for that of the other party.

Which of the following statements about the balance of payments is NOT true?

A) The BOP is the summary statement of all international transactions between one country and all other countries. B) The BOP is a flow statement, summarizing all international transactions that occur across the geographic borders over a period of time, typically a year. C) Although the BOP must always balance in theory, in practice there are substantial imbalances as a result of statistical errors and misreporting of current account and financial account flows. D) All of the above are true.

A line-item pattern must involve what kind of entity?

A) Strong entity B) Supertype entity C) Weak entity with one identifying relationship D) Weak entity with two identifying relationships