Question : Which of the following statement is correct?
- Export and import of machines are recorded in capital account of the balance of payment account.
- Current account of balance of payment account records only exports and imports of goods and services.
Option 1: Both are true
Option 2: Both are false
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 2 is true and statement 1 is false.
Answer (1)
23rd Jan, 2024
Correct Answer:
Both are false
Solution :
Export and import of machines are recorded in current account of the balance of payment account.
Current account of balance of payment account records exports and imports of goods and services, unilateral transfers, etc.
Hence option B is correct .
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