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Consider the following statements about Balance of payments
1. It shows country's inflow and outflow of foreign exchange.
2. It covers only export and import of goods and services during specific period.
3. The net balance of payment of the world is positive.
Q. Which of the above are correct?
  • a)
    1 and 2
  • b)
    2 and 3
  • c)
    1 only
  • d)
    All of the above
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Consider the following statements about Balance of payments1. It shows...
Balance of Payments
The Balance of Payment is an organized record of an overall economic transaction between the
Residents of the country and the rest of the world during the particular time period. It
comprises of Current account payments and Capital account payments.
There are two key accounts in the Balance of Payment. They are:
• Current Account: The current account registers exports and imports in goods, trade in
services and transfer payments.
• Capital Account: The capital account registers entire international procurements and sales
of assets such as money, bonds, etc.
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Consider the following statements about Balance of payments1. It shows countrys inflow and outflow of foreign exchange.2. It covers only export and import of goods and services during specific period.3. The net balance of payment of the world is positive.Q. Which of the above are correct?a)1 and 2b)2 and 3c)1 onlyd)All of the aboveCorrect answer is option 'C'. Can you explain this answer?
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Consider the following statements about Balance of payments1. It shows countrys inflow and outflow of foreign exchange.2. It covers only export and import of goods and services during specific period.3. The net balance of payment of the world is positive.Q. Which of the above are correct?a)1 and 2b)2 and 3c)1 onlyd)All of the aboveCorrect answer is option 'C'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about Consider the following statements about Balance of payments1. It shows countrys inflow and outflow of foreign exchange.2. It covers only export and import of goods and services during specific period.3. The net balance of payment of the world is positive.Q. Which of the above are correct?a)1 and 2b)2 and 3c)1 onlyd)All of the aboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements about Balance of payments1. It shows countrys inflow and outflow of foreign exchange.2. It covers only export and import of goods and services during specific period.3. The net balance of payment of the world is positive.Q. Which of the above are correct?a)1 and 2b)2 and 3c)1 onlyd)All of the aboveCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements about Balance of payments1. It shows countrys inflow and outflow of foreign exchange.2. It covers only export and import of goods and services during specific period.3. The net balance of payment of the world is positive.Q. Which of the above are correct?a)1 and 2b)2 and 3c)1 onlyd)All of the aboveCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Defence. Download more important topics, notes, lectures and mock test series for Defence Exam by signing up for free.
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