BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The balance of payments (BOP) is the record of all international financial transactions made by the residents of a country. There are three main categories of the BOP: the current account, the capital account, and the financial account.

Detailed explanation-2: -Balance of payments is best defined as: The system of accounts that records a nation’s international financial transactions. Tariffs, quotas, and nontariff barriers designed to shelter a country’s markets from intrusion by foreign companies are indicative of . Which of the following best defines a quota?

Detailed explanation-3: -The System of National Accounts (SNA) is the internationally agreed standard set of recommendations on how to compile measures of economic activity.

Detailed explanation-4: -The balance of payment is the statement that files all the transactions between the entities, government anatomies, or individuals of one country to another for a given period of time. All the transaction details are mentioned in the statement, giving the authority a clear vision of the flow of funds.

Detailed explanation-5: -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).