GK
ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In the balance of payments, the statistical discrepancy is used to
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insure that trade imports equal the value of trade exports
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obtain an accurate account of a balance-of-payments deficit
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obtain an accurate account of a balance-of-payments surplus
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insure that the sum of all debits matches the sum of all credits
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Explanation:
Detailed explanation-1: -The components of the balance of payments are the current record/account, the capital record/account, and the financial record/account. Also see: Balance of Trade Vs Balance of Payment.
Detailed explanation-2: -Statement 3 is correct: The Balance of Payments (BoP) includes both the current account and capital account, in the capital account there is the nation’s imports and exports of capital and foreign aid.
There is 1 question to complete.