Question : These items are known as above the line items.
 

Question : It refers to those transactions that are undertaken to cover the gap in the balance of payment.
 

Question : It refers to those international economic transactions, which takes place due to some economic motive such as profit maximisation.
 

Question : Calculate current account balance from the following-
Exports of visible items- 230
Import of invisible items- 20
Import of visible items- 10
Exports of invisible items- 20
Gifts and transfer from rest of the world- 30
 

Question : Calculate current account balance from the following-
Exports of visible items- 1203
Import of invisible items- 202
Import of visible items- 107
Exports of invisible items- 207
Gifts and transfer from rest of the world- 300