Which of the Following Statements Is Correct

Multiple Choice

Which of the following statements is correct?

A) Transfer payments from foreigners represent the payments that domestic residents receive from assets owned in foreign countries.
B) Imports refer to the goods and services that are produced domestically and consumed abroad.
C) Exports refer to the goods and services that are produced domestically and sold abroad.
D) Factor payments from foreigners represent the "gifts" received from individuals who reside abroad or from foreign governments.