BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The record of all economic transactions between the residents of a country and the rest of the world in a particular period is known as?
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Balance in Current Account
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Balance in Capital Account
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Trade Settlements
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Balance of Payments
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Explanation:
Detailed explanation-1: -The balance of payments (BOP) is the record of all international financial transactions made by the residents of a country.
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).
There is 1 question to complete.