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In Balance of Trade Account, imports are entered as : |
Credit Item Debit Item Neither debit nor credit Item Surplus Item |
Debit Item |
The correct answer is option (2) : Debit Item Balance of Trade (BOT) is the difference between the value of exports and value of imports of goods of a country in a given period of time. Export of goods is entered as a credit item in BOT, whereas import of goods is entered as a debit item in BOT. It is also known as Trade Balance. |
