Question

Balance of Payment is a record of transactions in between?

(A) the country and its states

(B) the country and rest of the world

(C) IMF and WTO

(D) a) and b)​

Answer 1

Answer:

A Balance of Payment Account is a systematic record of all economic transactions between residents of a country and the rest of the world carried out in a specific period of time. Briefly put, 'Balance of Payment Account is a summary of international transactions of a country for a given period' (i.e., financial year).

Answer 2

Answer:

The country and rest of the world