Explanation:
The Balance of Payments (BoP) is a record of all transactions between residents of one country and the rest of the world over a specific period of time. It consists of two main accounts - the current account and the capital account.

The current account records the transactions related to the trade in goods and services, income flows, and transfers between countries. It includes exports and imports of goods and services, income from investments, and unilateral transfers such as foreign aid.

The capital account, on the other hand, records the transactions related to capital transfers and the acquisition or disposal of non-produced, non-financial assets. It includes capital transfers such as debt forgiveness, the sale or purchase of non-produced assets like patents or copyrights, and the acquisition or disposal of non-financial assets like land or buildings.

Accommodating items:
Accommodating items are transactions that are included in the capital account to ensure that the balance of payments is in equilibrium. These items are intended to balance out any discrepancies between the current account and the capital account. They can include items such as official reserves, IMF transactions, and changes in liabilities.

Balance of Payments equilibrium:
The balance of payments is said to be in equilibrium when the debits and credits in the current account and the capital account are equal. This means that the total value of exports and imports of goods and services is equal to the total value of income flows and transfers, and the total value of capital transfers and the acquisition or disposal of assets is equal to zero.

Accommodating items and BoP balance:
When accommodating items are reflected as a part of the capital account, they help to balance out any discrepancies between the current account and the capital account. These items are used to ensure that the overall balance of payments is in equilibrium.

For example, if there is a deficit in the current account (more debits than credits), accommodating items in the capital account can be used to balance out the deficit. These items can include an increase in official reserves or borrowing from the IMF.

Similarly, if there is a surplus in the current account (more credits than debits), accommodating items in the capital account can be used to balance out the surplus. These items can include a decrease in official reserves or lending to the IMF.

Conclusion:
In conclusion, when accommodating items are reflected as a part of the capital account of the Balance of Payments, they help to balance out any discrepancies between the current account and the capital account. This ensures that the overall balance of payments is in equilibrium. Therefore, the statement "BoP always balances when accommodating items are reflected as a part of the capital account of BoP" is true.