{"id":33909,"date":"2024-04-15T09:23:28","date_gmt":"2024-04-15T09:23:28","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=33909"},"modified":"2024-04-15T09:23:28","modified_gmt":"2024-04-15T09:23:28","slug":"consider-the-following-statements-assertion-a-the-balance-of-payments-presents-a-classified-record-of-all-receipts-on-account-of-goods-exported-services-rendered-and-capital-received-by-res","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-assertion-a-the-balance-of-payments-presents-a-classified-record-of-all-receipts-on-account-of-goods-exported-services-rendered-and-capital-received-by-res\/","title":{"rendered":"Consider the following statements. Assertion (A): The &#8216;Balance of Payments&#8217; presents a classified record of all receipts on account of goods exported, services rendered and capital received by &#8216;residents&#8217; and payments made by them on account of goods imported and services received from capital transferred to &#8216;non-residents&#8217; or &#8216;foreigners&#8217;. Reason (R): The &#8216;Balance of Payments&#8217; of a country is a systematic record of all economic transactions between the &#8216;residents&#8217; of a country and the rest of the world."},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a99d6400a1cc\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    Both (A) and (R) are correct and (R) is the right explanation of (A)                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"true\">\r\n                    Both (A) and (R) are correct, but (R) is not the right explanation of (A)                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    (R) is correct, but (A) is not correct                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    Both (A) and (R) are incorrect                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: Both (A) and (R) are correct and (R) is the right explanation of (A).<\/p>\n<p>The balance of payments is a systematic record of all economic transactions between the residents of a country and the rest of the world. It includes all payments and receipts for goods, services, income, and capital.<\/p>\n<p>The balance of payments is divided into two main accounts: the current account <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> and the capital account. The current account records all payments and receipts for goods, services, and income. The capital account records all payments and receipts for capital transfers.<\/p>\n<p>The balance of payments is always in balance, but the two accounts can be in surplus or deficit. A current account surplus means that a country is exporting more goods and services than it is importing. A current account deficit means that a country is importing more goods and services than it is exporting.<\/p>\n<p>A capital account surplus means that a country is receiving more capital from abroad than it is investing abroad. A capital account deficit means that a country is investing more abroad than it is receiving from abroad.<\/p>\n<p>The balance of payments is an important tool for understanding a country&#8217;s economic health. It can be used to track a country&#8217;s trade performance, investment flows, and financial position.<\/p>\n<p>The following is a brief explanation of each option:<\/p>\n<ul>\n<li>Option A: Both (A) and (R) are correct and (R) is the right explanation of (A). This is the correct answer. The balance of payments is a systematic record of all economic transactions between the residents of a country and the rest of the world, and it includes all payments and receipts for goods, services, income, and capital.<\/li>\n<li>Option B: Both (A) and (R) are correct, but (R) is not the right explanation of (A). This is not the correct answer. The balance of payments is a systematic record of all economic transactions between the residents of a country and the rest of the world, and it includes all payments and receipts for goods, services, income, and capital. Therefore, (R) is the right explanation of (A).<\/li>\n<li>Option C: (R) is correct, but (A) is not correct. This is not the correct answer. The balance of payments is a systematic record of all economic transactions between the residents of a country and the rest of the world, and it includes all payments and receipts for goods, services, income, <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> and capital. Therefore, (A) is correct.<\/li>\n<li>Option D: Both (A) and (R) are incorrect. This is not the correct answer. The balance of payments is a systematic record of all economic transactions between the residents of a country and the rest of the world, and it includes all payments and receipts for goods, services, income, and capital. Therefore, (A) is correct.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[702],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Consider the following statements. Assertion (A): The &#039;Balance of Payments&#039; presents a classified record of all receipts on account of goods exported, services rendered and capital received by &#039;residents&#039; and payments made by them on account of goods imported and services received from capital transferred to &#039;non-residents&#039; or &#039;foreigners&#039;. Reason (R): The &#039;Balance of Payments&#039; of a country is a systematic record of all economic transactions between the &#039;residents&#039; of a country and the rest of the world.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-assertion-a-the-balance-of-payments-presents-a-classified-record-of-all-receipts-on-account-of-goods-exported-services-rendered-and-capital-received-by-res\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Consider the following statements. 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Assertion (A): The 'Balance of Payments' presents a classified record of all receipts on account of goods exported, services rendered and capital received by 'residents' and payments made by them on account of goods imported and services received from capital transferred to 'non-residents' or 'foreigners'. Reason (R): The 'Balance of Payments' of a country is a systematic record of all economic transactions between the 'residents' of a country and the rest of the world.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-assertion-a-the-balance-of-payments-presents-a-classified-record-of-all-receipts-on-account-of-goods-exported-services-rendered-and-capital-received-by-res\/","og_locale":"en_US","og_type":"article","og_title":"Consider the following statements. Assertion (A): The 'Balance of Payments' presents a classified record of all receipts on account of goods exported, services rendered and capital received by 'residents' and payments made by them on account of goods imported and services received from capital transferred to 'non-residents' or 'foreigners'. 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Assertion (A): The &#8216;Balance of Payments&#8217; presents a classified record of all receipts on account of goods exported, services rendered and capital received by &#8216;residents&#8217; and payments made by them on account of goods imported and services received from capital transferred to &#8216;non-residents&#8217; or &#8216;foreigners&#8217;. 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