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Question

Which of the following can be called as Balance of Payment (BoP)?

A Systematic record of transaction of government in terms of revenue and expenditure Correct Answer Incorrect Answer
B Systematic record of transaction of import and export of a country Correct Answer Incorrect Answer
C Systematic record of transaction of all production of goods and services Correct Answer Incorrect Answer
D Systematic record of transaction between the residents of a country and the rest of the world Correct Answer Incorrect Answer
E Systematic record of transaction between the residents of a country and the rest of the world in a specific time period. Correct Answer Incorrect Answer

Solution

Balance of Payment (BoP) refers to the systematic record of transaction among the residents of a country and the rest of the world in a given time period (usually a year).

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