Current account of Balance of Payments account records only exports and imports of goods and services.

True

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False

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Solution

The correct option is B False
In addition to exports and imports of goods and services, current account also records unilateral receipts and payments.

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Similar questions

Q. Export and import of machines are recorded in capital account of the balance of payments account.

Q. Assertion: Export and Import of goods (visible items) and Export and Import of services (invisible items) will be recorded in the current account of BOP.

Reason: These transactions do affect assets and liabilities of the parties involved.

[0.80 marks]

Which among the following statement(s) is/ are correct about India’s balance of payment? (NCERT)

1. The current account records of export and import in goods and services and stocks and bonds.

2. “Golden Period” of balance of payment in India was during Independence.

3. High earning from invisible was one of the reasons for satisfactory Bop situation in post reform period.

4. India’s forex Reserve SDR and RTP.

Code:

Q. Current account records receipts and payments of transactions relating to visible items only.

Current account surplus in balance of payments occurs when the export of visibles is greater than import of visibles. State true or false, and explain.

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Current account of Balance of Payments account records only exports and imports of goods and services.

The correct option is B FalseIn addition to exports and imports of goods and services, current account also records unilateral receipts and payments.

The correct option is B False
In addition to exports and imports of goods and services, current account also records unilateral receipts and payments.