Balance of payment consist of ———– and ———- items
-
A.
Credit and loss -
B.
visible and non-visible -
C.
valid and invalid -
D.
income and expenditure
Correct Answer: Option B
Explanation
The balance of payments is a summary of all monetary transactions between a country and rest of the world. These transactions are made by individuals, firms and government bodies. Thus the balance of payments includes all external visible and non-visible transactions of a country.