Question

In the _________________ , imports & exports of goods and services and unilateral transfer of goods & services are entered.

a.

Current Account

b.

Capital Account

c.

Reserve Account

d.

Balance on Merchandise Trade Account

Posted under IC 89 Management Accounting

Answer: (a).Current Account Explanation:In the context of balance of payments, the statement "imports & exports of goods and services and unilateral transfer of goods & services are entered" refers to the Current Account. The Current Account captures the flow of goods, services, income, and unilateral transfers (gifts or aid) between a country and the rest of the world. It is a key component of the balance of payments, reflecting the economic transactions involving the exchange of real resources.

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Q. In the _________________ , imports & exports of goods and services and unilateral transfer of goods & services are entered.
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