Question

What is the Balance of Payment (BOP) account?

a.

A summary of stock market transactions

b.

A summary of economic transactions between the residents of a country and rest of the world

c.

A summary of government expenditures

d.

A summary of domestic trade transactions

Posted under IC 89 Management Accounting

Answer: (b).A summary of economic transactions between the residents of a country and rest of the world Explanation:The Balance of Payment (BOP) account is the summary of the flow of economic transactions between the residents of a country and the rest of the world during a given time period.

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Q. What is the Balance of Payment (BOP) account?
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