Question
2. The balance of payments (BoP) records all economic transactions in goods, services, and assets of the country with the rest of the world for
2. The balance of payments (BoP) records all economic transactions in goods, services, and assets of the country with the rest of the world for a specified time period, usually a year. In simple terms, it is a systematic accounting balance sheet of the country and includes both debit and credit transactions. Based on this statement, define and give TWO (2) examples with explainations clearly :-
a) Balance of payment - two examples with explainations clearly
b) Current Account- two examples with explainations clearly
c) Capital Account- two examples with explainations clearly
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