Question: When a U . S . mutual fund manager purchases shares of a German stock, the mutual fund was engaged in the services category in

When a U.S. mutual fund manager purchases shares of a German stock, the mutual fund
was engaged in the services category in the Current Account of the Balance of Payments.
was engaged in an Official Reserves transaction in the Balance of Payments.
was engaged in foreign direct investment in the Financial Account of the Balance of Payments.
was engaged in portfolio investment in the Financial Account of the Balance of Payments.
None of the other answers are correct.
When a U.S. mutual fund manager purchases shares of a German

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