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.

Question

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.

Team Careers360 · Accepted Answer

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 .

Exams

Colleges

Predictors

Resources

Quick links

B.Tech CompanionUse Now Your one-stop Counselling package for JEE Main, JEE Advanced and BITSAT

Exams

Colleges & Courses

Predictors

Resources

Exams

Colleges

Predictors & E-Books

Resources

Engineering Preparation

Medical Preparation

Online Courses

Products

Exams

Colleges

Resources

Exams

Colleges

Predictors & Articles

Resources

Exams

Colleges

Predictors

Resources

NEET CompanionUse NowYour one-stop Counselling package for NEET, AIIMS and JIPMER

Exams

Colleges

Upcoming Events

Resources

Exams

Colleges

Resources

Quick Links

Top Streams

Specializations

Resources

Top Providers

Exams

Colleges

Resources

Diploma Colleges

Exams

Colleges

Resources

Exams

Resources

Top Courses & Careers

Colleges

Exams

Upcoming Events

Resources

Other Exams

Exams

Colleges

Top Countries

Student Visas

Exams

Top Schools

Products & Resources

NCERT Study Material

Related Questions

Question : Which of the following statement is correct? Profit received from investment abroad is recorded in capital account. Import of machines is recorded in current account.

Question : Which of the following statement is correct? Foreign investment are recorded in the capital account of balance of payment. Surplus in balance of trade and deficit and current account may coexist.

Question : Which of the following statement is correct? Deficit in balance of trade indicates deficit in balance of payments also. Foreign investment are recorded in the capital account of balance of payment.

Question : Which of the following statement is correct? Unilateral transfers me to abroad will be recorded as a debit item of balance of payment on current account. Balance of payment is the stock concept.

Question : Which of the following statement is correct? For equilibrium in balance of payments, sum total of current account and capital account should be one. Withdrawal from reserve is recorded in capital account on credit side.

Trending Articles/News

Sign In/Sign Up

Download the Careers360 App on your Android phone

B.Tech CompanionUse Now
Your one-stop Counselling package for JEE Main, JEE Advanced and BITSAT

NEET CompanionUse Now
Your one-stop Counselling package for NEET, AIIMS and JIPMER

Question : Which of the following statement is correct?

Profit received from investment abroad is recorded in capital account.

Import of machines is recorded in current account.

Question : Which of the following statement is correct?

Foreign investment are recorded in the capital account of balance of payment.

Surplus in balance of trade and deficit and current account may coexist.

Question : Which of the following statement is correct?

Deficit in balance of trade indicates deficit in balance of payments also.

Foreign investment are recorded in the capital account of balance of payment.

Question : Which of the following statement is correct?

Unilateral transfers me to abroad will be recorded as a debit item of balance of payment on current account.

Balance of payment is the stock concept.

Question : Which of the following statement is correct?

For equilibrium in balance of payments, sum total of current account and capital account should be one.

Withdrawal from reserve is recorded in capital account on credit side.