Question : Receipts of unilateral transfers from rest of the world is recorded on ______ side of ______ account.
Option 1: Credit, current
Option 2: Credit, capital
Option 3: Debit, current
Option 4: Debit, capital
Answer (1)
26th Jan, 2024
Correct Answer:
Credit, current
Solution :
Receipts of unilateral transfers from rest of the world is shown on the credit side of current account.
Hence, Option A is correct.
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