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.

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?

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.

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: Statement 1 is true and statement 2 is false.

Solution : Unilateral transfers me to abroad will be recorded as a debit item of balance of payment on current account.
Balance of payment is the flow concept.
Hence option C is correct .

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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 are also known as required transfers.

In current account, when value of credit items are more than debit items, it indicates net inflow of foreign exchange.

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?

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

Question : Which of the following statement is correct?

Trade deficit is always a great cause of worry for an economy.

Borrowings from abroad are recorded in the capital account of balance of payment on the debit side.