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      Question

      If Balance of Payment is always balanced, it means

      ____
      A Import of goods and exports of goods are balanced Correct Answer Incorrect Answer
      B Import and export of goods and services are balanced Correct Answer Incorrect Answer
      C Current account surplus or deficit is balanced by the deficit or surplus of capital account Correct Answer Incorrect Answer
      D Current account surplus is equal to capital account surplus Correct Answer Incorrect Answer
      E All of the above Correct Answer Incorrect Answer

      Solution

      The balance of payment is the ‘systematic record of economic transactions of the residents of a country with the rest of the world during a given period of time’. It comprises of Current, capital and financial accounts. In accounting terms, any surplus or deficit in one account is balanced by a deficit or surplus I the other. Concept covered in live classes and videos

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