ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Current Ac inflow
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Current Ac Outflow
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Financial Ac inflow
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Financial Ac outflow
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Detailed explanation-1: -The balance of payments is a system of recording transactions that happen between countries. Any movement of money into, or out of, a country has to be accounted for.
Detailed explanation-2: -What is the balance of payments? The Balance of Payments (BOP) is a statement recording all the financial transactions made between the residents of a country and the rest of the world over a certain period.
Detailed explanation-3: -Within the BOP there are three separate categories under which different transactions are categorized: the current account, the capital account and the financial account. In the current account, goods, services, income and current transfers are recorded.
Detailed explanation-4: -The current account records imports and exports, as well as transfer payments.