1. Suppose a South African individual open an offshore account in Swiss bank worth R900, 000. Using the double-entry bookkeeping approach to the balance of payments, which of the following statements is/are correct when recording this transaction in South Africa's Balance-Of-Payments (BoP) statement? (i) Foreigners will increase their holdings of South African assets. (ii) The credit entry is entered in the short-term non-financial flows sub-account of South Africa's financial account. (iii) The debit entry is recorded in South Africa's capital account. (iv) Foreigners will reduce their holdings of South African assets. A. Only (i) is correct. B. Only (ii) is correct. C. Only (i) and (ii) are correct. D. Only (i) and (iii) are correct. E. Only (ii) and (iv) are correct