gs1easy
The Balance of Payments of a country is a systematic record of
- A.all import and export transactions of a country during a given period of time, normally a year
- B.goods exported from a country during a year
- C.economic transaction between the government of one country to another
- D.capital movements from one country to another
▶ Answer & Explanation
Correct answer: A. all import and export transactions of a country during a given period of time, normally a year
The Balance of Payments (BoP) is a comprehensive accounting record of all economic transactions between residents of a country and the rest of the world over a specific period. It includes not only the trade of goods and services (current account) but also capital flows (capital account) and official reserve transactions. Therefore, it encompasses all import and export transactions, whether of goods or services, within a defined timeframe.
Source: UPSC gs1 2013