ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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statement of all transactions made between one country and the rest of the world
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statement of all transactions made between one country and the rest of the world over a defined period of time
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the amount still owed by an exporting firm after making an initial down payment.
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the amount still owed by governments to the International Monetary Fund.
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Detailed explanation-1: -The balance of payments (BOP), also known as the balance of international payments, is a statement of all transactions made between entities in one country and the rest of the world over a defined period, such as a quarter or a year.
Detailed explanation-2: -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.
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.
Detailed explanation-4: -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-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).