Question

After covering deficit on current account, excess capital account receipts are added to_________.
a IMF account
b Official account
c Foreign exchange reserve
d Bank capital

Answer 1

official account is the correct answer

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Answer 2

After paying the balance in the current account, the overdraft account receipts can be added to:

• Economically, the current country account records the amount of exports and imports of both goods and services as well as the transfer of large amounts of money to other countries.

• The shortfall in the current account is funded by the accumulation in the main account.

• Display- if current account is missing (or import is over export).

• Excess import bills are paid on foreign loans or by selling their goods (FDI / FII).

• The excess amount of receipts in payments for financial transactions is called capital account balance.

• Note that interest receipts or interest payments on payments are current activities while receipts or payments for the sale or purchase of goods are the functions of a cash account.