| I. Those transactions arising out of exports and imports (the visible items) |
| II. It is astatistical statement of all transactions made between one particular country and all other countries during a specified period of time |
| III. This account is the summary of all international trade transactions of the domestic country in one year |
A) I & III
B) Only I
C) Only II
D) None of the above
Correct Answer: C
Solution :
Balance of payments (BoP) is astatistical statement of all transactions made between one particular country and all other countries during a specified period of time. It also include export-import of visible and invisible items.
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