Multiple choice

The annual record for all the monetary transactions of a country with other countries of the world is known as

  1. Balance of trade

  2. Balance of monetary-receipts

  3. Balance of payments

  4. Balance sheet.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Balance of Payments (BoP) is a comprehensive record of all economic transactions between residents of a country and the rest of the world during a given period. It includes trade balance, services, income transfers, and capital flows. Unlike Balance of Trade which only covers goods, BoP encompasses all monetary transactions including invisible items.

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