Which of the following should always be balanced in the foreign trade of India?a)Balance of Tradeb)Balance of Paymentc)Balance of Current Accountd)No option is correctCorrect answer is option 'B'. Can you explain this answer?

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Which of the following should always be balanced in the foreign trade of India?

a)
Balance of Trade
b)
Balance of Payment
c)
Balance of Current Account
d)
No option is correct

Correct answer is option 'B'. Can you explain this answer?

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Which of the following should always be balanced in the foreign trade ...

• The balance of payment is a book-keeping procedure in which records of all international economic transactions of a country during a given period of time are cataloged.

• It is, therefore, an important aspect of foreign trade of India.

• The balance of payment always balances since every transaction has to be settled to ensure total debits equal total credits

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Which of the following should always be balanced in the foreign trade of India?a)Balance of Tradeb)Balance of Paymentc)Balance of Current Accountd)No option is correctCorrect answer is option 'B'. Can you explain this answer?

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