McqMate
Q. |
he annual record for all the monetary transactions of a country with other countries of the world is known as - |
A. | Balance of trade |
B. | Balance of monetary-receipts |
C. | Balance of payments |
D. | Balance Sheet |
Answer» C. Balance of payments | |
Explanation: Balance of payments (BoP) accounts arc an accounting record of all monetary transactions between a country and the rest of the world. These transactions include payments for the country's exports and imports of goods, services, financial capital, and financial transfers. The BoP accounts summarize international transactions for a specific period, usually a year, and are prepared in a single currency, typically the domestic currency for the country concerned. |
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