BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The balance of payments (BOP) of a country is the record of all economic transactions between the residents of a country and the rest of the world in a particular period (over a quarter of a year or more commonly over a year).

Detailed explanation-2: -The balance of payments summarises the economic transactions of an economy with the rest of the world. These transactions include exports and imports of goods, services and financial assets, along with transfer payments (like foreign aid).

Detailed explanation-3: -balance of payments, systematic record of all economic transactions between residents of one country and residents of other countries (including the governments). The transactions are presented in the form of double-entry bookkeeping.

Detailed explanation-4: -The current account is used to mark the inflow and outflow of goods and services into a country. The capital account is where all international capital transfers are recorded.