Determining total receipts-Balance of Payment
When Balance of payment of a country is Rs (-) 100 crores and total payment are Rs 500 crores. Determine its total receipts.
Expert
Balance of Payment = Total receipts - Total payments Total receipts = Total Payment + BOP =500 + (-100) =500 – 100 = 400
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Balance of payment Accounts: It is the systematic record of all economic transactions among the residents of a country and rest of the world in a specified period (1-year) of time.
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