Practicing Success
Which of the following explains the balance of payment account in the best possible way? |
Difference between visible imports and exports of commodities Difference between inflow of foreign exchange and outflow of foreign exchange Difference between currency earned by residents and non-residents All of the above |
Difference between inflow of foreign exchange and outflow of foreign exchange |
Balance of payment is a record of all the transactions that are taking between the residents of a country and the rest of the world. It involves recording all the transactions that results in inflow and outflow of foreign exchange. |