Which are following statement(s) is/are correct definition of payment balance in economy terms?begin{enumerate}item This is transaction records among the country in which payment is made in currency other than US dollaritem This is a transaction record between specific country and all countries.item This is record of export/import of a country and difference of amount in US$end{enumerate}

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which are following statement(s) is/are correct definition of ‘payment balance’ in economy terms?

A	Only 1
B	Only 2
C	Only 3
D	Only 1 and 3

Explanation:

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 Payment (BOP) is a statement that records all the monetary transactions made between residents of a country and the rest of the world during any given period.

Detailed explanation-3: -The balance of payments of a country is a systematic record of all import and export transactions of a country during a given period of time normally a year.

There is 1 question to complete.