he annual record for all the monetary transactions of a country with other countries of the world is known as - (1) Balance of trade (2) Balance of monetary-receipts (3) Balance of payments (4) Balance Sheet

he annual record for all the monetary transactions of a country with other countries of the world is known as - (1) Balance of trade (2) Balance of monetary-receipts (3) Balance of payments (4) Balance Sheet
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(3) Balance of payments Explanation: Balance of payments (BoP) accounts arc an accounting record of all monetary transactions between a country and the rest of the world. These transactions include payments for the country's exports and imports of goods, services, financial capital, and financial transfers. The BoP accounts summarize international transactions for a specific period, usually a year, and are prepared in a single currency, typically the domestic currency for the country concerned.
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The annual record for all the monetary transactions of a country with other countries of the world is known as (1) Balance of trade (2) Balance of monetary-receipts (3) Balance of payments (4) Balance Sheet

Description : The annual record for all the monetary transactions of a country with other countries of the world is known as (1) Balance of trade (2) Balance of monetary-receipts (3) Balance of payments (4) Balance Sheet

Last Answer : Balance of payments

The record of all economic transactions between the residents of a country and the rest of the world in a particular period is known as _______ A. Balance in Current Account B. Balance in Capital Account C. Trade Settlements D. Balance of Trade E. Balance of Payments

Description : The record of all economic transactions between the residents of a country and the rest of the world in a particular period is known as _______ A. Balance in Current Account B. Balance in Capital Account C. Trade Settlements D. Balance of Trade E. Balance of Payments

Last Answer : E. Balance of Payments Explanation: The balance of payments (BOP) is the method countries use to monitor all international monetary transactions at a specific period of time.A record of all transactions made between one particular country and all other countries during a specific time period.

What records a country's transactions (made by individuals, firms and government bodies.) with the rest of the world? a) Trade deficit b) Capital Budget c) Foreign imports d) Balance of Payments or BoP

Description : What records a country's transactions (made by individuals, firms and government bodies.) with the rest of the world? a) Trade deficit b) Capital Budget c) Foreign imports d) Balance of Payments or BoP

Last Answer : b) other things remaining equal

Donations received for the special purpose will be taken to the– (A) Income and Expenditure Account (B) Assets side of the Balance Sheet (C) Liabilities side of the Balance Sheet (D) Receipts and Payments Account

Description : Donations received for the special purpose will be taken to the– (A) Income and Expenditure Account (B) Assets side of the Balance Sheet (C) Liabilities side of the Balance Sheet (D) Receipts and Payments Account

Last Answer : Answer: Liabilities side of the Balance Sheet

The balance of payments equals (a) The difference between household spending over earnings (b) The difference between government expenditure over its income © A measure of the value of economic transactions between residents of a country and rest of the world (d) The difference between inflation and unemployment.

Description : The balance of payments equals (a) The difference between household spending over earnings (b) The difference between government expenditure over its income © A measure of the value of economic ... a country and rest of the world (d) The difference between inflation and unemployment.

Last Answer : © A measure of the value of economic transactions between residents of a country and rest of the world

The difference in the value of visible exports and visible imports is called : (1) Balance Sheet of items (2) Balance of Payments (3) Balance of Trade (4) Balance of Account

Description : The difference in the value of visible exports and visible imports is called : (1) Balance Sheet of items (2) Balance of Payments (3) Balance of Trade (4) Balance of Account

Last Answer : (3) Balance of Trade Explanation: Balance of Trade refers to the difference between the value of a country's visible imports and visible exports. Also known as the visible balance, it forms part of ... totals more than the value of visible exports, it is known as an adverse balance of trade.

The difference in the value of visible exports and visible imports is called : (1) Balance Sheet of items (2) Balance of Payments (3) Balance of Trade (4) Balance of Account

Description : The difference in the value of visible exports and visible imports is called : (1) Balance Sheet of items (2) Balance of Payments (3) Balance of Trade (4) Balance of Account

Last Answer : Balance of Trade

In the balance of payments account, unrequited receipts and payments are also regarded as - (1) bilateral transfers (2) unilateral transfers (3) capital account transfers (4) invisible transfers

Description : In the balance of payments account, unrequited receipts and payments are also regarded as - (1) bilateral transfers (2) unilateral transfers (3) capital account transfers (4) invisible transfers

Last Answer : (2) unilateral transfers Explanation: Unrequited receipts and payments are also regarded as unilateral transfers as the flow is only in one direction with no automatic reverse flow in the other ... borrowings nor lending, but gifts and grants exchanged between governments and people in the world.

In the balance of payments account, unrequited receipts and payments are also regarded as (1) bilateral transfers (2) unilateral transfers (3) capital account transfers (4) invisible transfers

Description : In the balance of payments account, unrequited receipts and payments are also regarded as (1) bilateral transfers (2) unilateral transfers (3) capital account transfers (4) invisible transfers

Last Answer : unilateral transfers

A primary objective of dual exchange rates is to allow a country the ability to insulate its balance of payments from net: A. Current account transactions B. Unilateral transfers C. Merchandise trade transactions D. Capital account transactions

Description : A primary objective of dual exchange rates is to allow a country the ability to insulate its balance of payments from net: A. Current account transactions B. Unilateral transfers C. Merchandise trade transactions D. Capital account transactions

Last Answer : D. Capital account transactions

A primary objective of dual exchange rates is to allow a country the ability to insulate its balance of payments from net: A. Current account transactions B. Unilateral transfers C. Merchandise trade transactions D. Capital account transactions

Description : A primary objective of dual exchange rates is to allow a country the ability to insulate its balance of payments from net: A. Current account transactions B. Unilateral transfers C. Merchandise trade transactions D. Capital account transactions

Last Answer : D. Capital account transaction

Which one of the following items is not included in the current account of India's Balance of Payments? (1) Short-term commercial borrowings (2) Non-monetary gold movements (3) Investment income (4) Transfer payments

Description : Which one of the following items is not included in the current account of India's Balance of Payments? (1) Short-term commercial borrowings (2) Non-monetary gold movements (3) Investment income (4) Transfer payments

Last Answer : (2) Non-monetary gold movements Explanation: Balance of payments (BoP) accounts are an accounting record of all monetary transactions between a country and the rest of the world. These ... factor income (earnings on foreign investments minus payments made to foreign investors) and cash transfers.

According to monetary approach of Balance of Payments, the demand for money is a stable function of (a) income, prices and rate of interest (b) income and prices (c) prices and rate of interest (d) income, prices and foreign exchange reserves

Description : According to monetary approach of Balance of Payments, the demand for money is a stable function of (a) income, prices and rate of interest (b) income and prices (c) prices and rate of interest (d) income, prices and foreign exchange reserves

Last Answer : income, prices and rate of interest

Which one of the following items is not included in the current account of India’s Balance of Payments ? (1) Short-term commercial borrowings (2) Non-monetary gold movements (3) Investment income (4) Transfer payments

Description : Which one of the following items is not included in the current account of India’s Balance of Payments ? (1) Short-term commercial borrowings (2) Non-monetary gold movements (3) Investment income (4) Transfer payments

Last Answer : Non-monetary gold movements

The International Monetary Fund is important because: A. It has sufficient financial resources to deal with a major global financial crisis. B. It has sufficient financial resources to help individual countries facing balance of payments problems. C. Emerging economies can exercise significant influence on it. D. It fixes exchange rates.

Description : The International Monetary Fund is important because: A. It has sufficient financial resources to deal with a major global financial crisis. B. It has sufficient financial resources to help individual ... C. Emerging economies can exercise significant influence on it. D. It fixes exchange rates.

Last Answer : It has sufficient financial resources to help individual countries facing balance of payments problems

The_______ of an office will ordinarily be a sum equal to the average _________multiplied by the number of days in which funds can be obtained, plus a percentage of the average ___________(if necessary), as a margin – the amount of which will depend upon the extent of the difference between the receipts and payments, and other considerations a) Minimum cash balance , daily payments, daily payments a) Maximum cash balance , daily payments, daily payments a) Minimum cash balance , daily payments, daily receipts a) None of these

Description : The_______ of an office will ordinarily be a sum equal to the average _________multiplied by the number of days in which funds can be obtained, plus a percentage of the average ___________(if ... payments, daily payments a) Minimum cash balance , daily payments, daily receipts a) None of these

Last Answer : a) Minimum cash balance , daily payments, daily payments

The exchange rate at the balance sheet date is known as ________ (a) Average Rate (b) Closing Rate (c) Non-monetary Rate (d) Monetary Rate

Description : The exchange rate at the balance sheet date is known as ________ (a) Average Rate (b) Closing Rate (c) Non-monetary Rate (d) Monetary Rate

Last Answer : (b) Closing Rate

Who will responsible for all the monetary transactions of the divisions and for the correctness of the accounts in RMS a. SRO b.SA c. Head Record Officer

Description : Who will responsible for all the monetary transactions of the divisions and for the correctness of the accounts in RMS a. SRO b.SA c. Head Record Officer

Last Answer : c. Head Record Officer

Rich countries have deficit in their balance of payments (a) Sometimes. (b) Always. © Never. (d) Alternate years.

Description : Rich countries have deficit in their balance of payments (a) Sometimes. (b) Always. © Never. (d) Alternate years.

Last Answer : (a) Sometimes.

Which of the following policies is known as Annual Policy Statement? A. Annual budget of central government B. Credit and Monetary Policy of RBI C. Foreign trade policy of DGFT D. Regulations issued by SEBI E. None of the Above

Description : Which of the following policies is known as Annual Policy Statement? A. Annual budget of central government B. Credit and Monetary Policy of RBI C. Foreign trade policy of DGFT D. Regulations issued by SEBI E. None of the Above

Last Answer : B. Credit and Monetary Policy of RBI Explanation: Credit and Monetary Policy of RBI is known as Annual Policy Statement.

Which exchange-rate mechanism is intended to insulate the balance of payments from short-term capital movements while providing exchange rate stability for commercial transactions? A. Dual Exchange Rates B. Managed Floating Exchange Rates C. Adjustable Pegged Exchange Rates D. Crawling Pegged Exchange Rates

Description : Which exchange-rate mechanism is intended to insulate the balance of payments from short-term capital movements while providing exchange rate stability for commercial transactions? A. Dual ... Floating Exchange Rates C. Adjustable Pegged Exchange Rates D. Crawling Pegged Exchange Rates

Last Answer : A. Dual Exchange Rates

Which of the following transactions is included in the current account balance of the Balance of payments statement? (a) Foreign direct investments. ; (b) Portfolio investments.; (c) External commercial borrowings. ; (d) Dividends earned on portfolio investments

Description : Which of the following transactions is included in the current account balance of the Balance of payments statement? (a) Foreign direct investments. ; (b) Portfolio investments.; (c) External commercial borrowings. ; (d) Dividends earned on portfolio investments

Last Answer : (d) Dividends earned on portfolio investments

When there is a difference between all receipts and expenditure of the Government of India both capital and revenue it is called __________ A. Revenue Deficit B. Budgetary Deficit C. Zero Budgeting D. Trade Gap E. Balance of Payment Problem

Description : When there is a difference between all receipts and expenditure of the Government of India both capital and revenue it is called __________ A. Revenue Deficit B. Budgetary Deficit C. Zero Budgeting D. Trade Gap E. Balance of Payment Problem

Last Answer : B. Budgetary Deficit Explanation: Budgetary deficit is the difference between all receipts and expenses in both revenue and capital account of the government.If revenue expenses of the government ... leads to capital account deficit. Budgetary deficit is usually expressed as a percentage of GDP.

The contingent liability denominated in foreign currency at the balance sheet date is disclosed by using the __________ (a) Average Rate (b) Closing Rate (c) Non-monetary Rate (d) Monetary Rate

Description : The contingent liability denominated in foreign currency at the balance sheet date is disclosed by using the __________ (a) Average Rate (b) Closing Rate (c) Non-monetary Rate (d) Monetary Rate

Last Answer : Closing

Non-monetary items which are carried in terms of historical cost denominated in a foreign currency should be reported using the exchange rate at the date of the ___________ (a) Balance Sheet (b) Transaction (c) Settlement (d) None of the above

Description : Non-monetary items which are carried in terms of historical cost denominated in a foreign currency should be reported using the exchange rate at the date of the ___________ (a) Balance Sheet (b) Transaction (c) Settlement (d) None of the above

Last Answer : b) Transaction

An auditor should design the written audit program so that a. All material transactions will be selected for substantive testing. b. Substantive tests prior to the balance sheet date will be minimized. c. Each account balance will be tested under either tests of controls or tests of transactions. d. The audit procedures selected will achieve specific audit objectives

Description : An auditor should design the written audit program so that a. All material transactions will be selected for substantive testing. b. Substantive tests prior to the balance sheet date ... controls or tests of transactions. d. The audit procedures selected will achieve specific audit objectives

Last Answer : The audit procedures selected will achieve specific audit objectives

Transactions with related parties are important to the auditors because they will be disclosed in the financial statements if material. Generally accepted accounting principles would not require disclosure of a. Loans to officers during the year which had been repaid before the balance sheet date. b. The nature of the related-party relationship. c. A description of transactions, including peso amounts. d. The amounts due from and to related parties

Description : Transactions with related parties are important to the auditors because they will be disclosed in the financial statements if material. Generally accepted accounting principles would not require disclosure of ... transactions, including peso amounts. d. The amounts due from and to related parties

Last Answer : Loans to officers during the year which had been repaid before the balance sheet date

An auditor should design a written audit program so that: a. All material transactions will be selected for substantive testing. b. Substantive tests prior to the balance sheet date will be minimized. c. The audit procedures selected will achieve specific audit objectives. d. Each account balance will be tested under either tests of controls or tests of transactions

Description : An auditor should design a written audit program so that: a. All material transactions will be selected for substantive testing. b. Substantive tests prior to the balance sheet date will be minimized ... . d. Each account balance will be tested under either tests of controls or tests of transactions

Last Answer : The audit procedures selected will achieve specific audit objectives

The balance of payments of a country on current account is equal to A. Balance of trade plus short term B. Balance of trade plus net invisible exports C. Balance of payment minus capital flows

Description : The balance of payments of a country on current account is equal to A. Balance of trade plus short term B. Balance of trade plus net invisible exports C. Balance of payment minus capital flows

Last Answer : Balance of trade plus net invisible exports

Which of the following exceptions in the WTO rules does not permit a country to use a tariff or quota that is more restrictive than its bound tariff? A. Anti-dumping B. Countervailing duties C. Safeguards D. Balance of payments protection E. Preferential trade agreements

Description : Which of the following exceptions in the WTO rules does not permit a country to use a tariff or quota that is more restrictive than its bound tariff? A. Anti-dumping B. Countervailing duties C. Safeguards D. Balance of payments protection E. Preferential trade agreements

Last Answer : E. Preferential trade agreements

The balance of payments of a country is in equilibrium when the - (1) demand as well as supply of the domestic currency are the highest (2) demand for the domestic currency is equal to its supply (3) demand for the domestic currency is the highest (4) demand for the domestic currency is the lowest

Description : The balance of payments of a country is in equilibrium when the - (1) demand as well as supply of the domestic currency are the highest (2) demand for the domestic currency is equal to its supply (3) demand for the domestic currency is the highest (4) demand for the domestic currency is the lowest

Last Answer : (2) demand for the domestic currency is equal to its supply Explanation: When the balance of payments (BOP) of a country is in equilibrium, the surplus or deficit is eliminated from the ... currency is equal to its supply. The demand and supply situation is thus neither favourable nor unfavourable.

The balance of payments of a country is in equilibrium when the (1) demand as well as supply of the domestic currency are the highest (2) demand for the domestic currency is equal to its supply (3) demand for the domestic currency is the highest (4) demand for the domestic currency is the lowest

Description : The balance of payments of a country is in equilibrium when the (1) demand as well as supply of the domestic currency are the highest (2) demand for the domestic currency is equal to its supply (3) demand for the domestic currency is the highest (4) demand for the domestic currency is the lowest

Last Answer : demand for the domestic currency is equal to its supply

Receipts and Payments Account is an abbreviated form of– (A) Cash Book (B) Pass Book (C) Both Cash Book and Pass Book (D) None of the above

Description : Receipts and Payments Account is an abbreviated form of– (A) Cash Book (B) Pass Book (C) Both Cash Book and Pass Book (D) None of the above

Last Answer : Answer: Cash Book

A) PayUmoney Explanation: It can allow even the smallest of merchants to start accepting card based payments. It can accept all credit/debit cards. The POS terminal is easy to set up, can be operated using a pre- or post-paid SIM, and does away with the use of paper receipts—making it cost & battery effective, and, of course, very environment friendly. With a simple and hassle-free documentation policy, a merchant can start using a PayUmoney POS terminal within 48 hours of signing up for the service.

Description : A) PayUmoney Explanation: It can allow even the smallest of merchants to start accepting card based payments. It can accept all credit/debit cards. The POS terminal is easy to set up, can be ... , a merchant can start using a PayUmoney POS terminal within 48 hours of signing up for the service.

Last Answer : Which of the following company launched “Receive and Win” campaign for Ramzan? A) Mobikwik B) Freecharge C) Paytm D) MoneyGram E) Udio

In post offices defalcations or losses, should be charged in the schedule of --------------- and payments and recoveries of losses should be credited in the schedule of --------------- a. UCP, UCR b UCR, UCP, c. receipts , payments

Description : In post offices defalcations or losses, should be charged in the schedule of --------------- and payments and recoveries of losses should be credited in the schedule of --------------- a. UCP, UCR b UCR, UCP, c. receipts , payments

Last Answer : a. UCP,

Cash flows include a) Cash payments only b) Cash receipts only c) Cash receipts and payments d) Cash and noncash incomes and expenses.

Description : Cash flows include a) Cash payments only b) Cash receipts only c) Cash receipts and payments d) Cash and noncash incomes and expenses.

Last Answer : c) Cash receipts and payments

The ______________ details sales volume in all segments, reporting each product’s actual and potential sales. a. Balance Sheet b. Market Share Report c. HR/TQM/Sustainability Report d. Round Analysis e. Annual Report

Description : The ______________ details sales volume in all segments, reporting each product’s actual and potential sales. a. Balance Sheet b. Market Share Report c. HR/TQM/Sustainability Report d. Round Analysis e. Annual Report

Last Answer : b. Market Share Report

Variation in Cash Reserve Ratio and Open Market Operations are instruments of (1) Budgetary policy (2) Trade policy (3) Fiscal policy (4) Monetary policy

Description : Variation in Cash Reserve Ratio and Open Market Operations are instruments of (1) Budgetary policy (2) Trade policy (3) Fiscal policy (4) Monetary policy

Last Answer : (4) Monetary policy Explanation: Bank Rate Policy, open market operations and variation of Cash Reserve Ratios, etc. are instruments of monetary policy. With the help of these instruments, the ... money, often targeting a rate of interest for the purpose of promoting economic growth and stability.

Custom duty is an instrument of - (1) Monetary Policy (2) Foreign Trade Policy (3) Industrial Policy (4) Fiscal Policy

Description : Custom duty is an instrument of - (1) Monetary Policy (2) Foreign Trade Policy (3) Industrial Policy (4) Fiscal Policy

Last Answer : (2) Foreign Trade Policy Explanation: Custom duty is a tax on imports imposed on an ad valorem basis, i.e, fixed in the form of a percentage on the value of the commodity imported.

The 'Interest Rate Policy' is a component of - (1) Fiscal Policy (2) Monetary Policy (3) Trade Policy (4) Direct Control

Description : The 'Interest Rate Policy' is a component of - (1) Fiscal Policy (2) Monetary Policy (3) Trade Policy (4) Direct Control

Last Answer : (2) Monetary Policy Explanation: Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the ... . Monetary authorities in different nations have differing levels of control of economy-wide interest rates.

Variation in Cash Reserve Ratio and Open Market Operations are instruments of (1) Budgetary policy (2) Trade policy (3) Fiscal policy (4) Monetary policy

Description : Variation in Cash Reserve Ratio and Open Market Operations are instruments of (1) Budgetary policy (2) Trade policy (3) Fiscal policy (4) Monetary policy

Last Answer : Monetary policy

Custom duty is an instrument of (1) Monetary Policy (2) Foreign Trade Policy (3) Industrial Policy (4) Fiscal Policy

Description : Custom duty is an instrument of (1) Monetary Policy (2) Foreign Trade Policy (3) Industrial Policy (4) Fiscal Policy

Last Answer : Foreign Trade Policy

The ‘Interest Rate Policy’ is a component of (1) Fiscal Policy (2) Monetary Policy (3) Trade Policy (4) Direct Control

Description : The ‘Interest Rate Policy’ is a component of (1) Fiscal Policy (2) Monetary Policy (3) Trade Policy (4) Direct Control

Last Answer : Monetary Policy

The _____________ is the difference in value between a nation's exports and its imports 1. balance of payments 2. export / import ratio 3. gross domestic product 4. net trade value 5. balance of trade

Description : The _____________ is the difference in value between a nation's exports and its imports 1. balance of payments 2. export / import ratio 3. gross domestic product 4. net trade value 5. balance of trade

Last Answer : balance of trade

e __________ is the difference in value between a nation's exports and its imports. A)balance of payments B)export/import ratio C)gross domestic product D)net trade value E)balance of trade

Description : e __________ is the difference in value between a nation's exports and its imports. A)balance of payments B)export/import ratio C)gross domestic product D)net trade value E)balance of trade

Last Answer : A)balance of payments

)A currency having a falling exchange rate due to continuing balance of payments deficit is called a- (1) Soft currency (2) Hard currency (3) Scarce currency (4) Surplus currency

Description : )A currency having a falling exchange rate due to continuing balance of payments deficit is called a- (1) Soft currency (2) Hard currency (3) Scarce currency (4) Surplus currency

Last Answer : (1) Soft currency Explanation: Soft currency is a currency with a value that fluctuates as a result of the country's political or economic uncertainty which may be due to balance of payments ... set unrealistically high exchange rates, pegging their currencies to a currency such as the U.S. dollar

The best Index of Economic Development is provided by: (1) Growth in Percapita Real Income from year to year. (2) Growth in National Income at Current Prices. (3) Growth in savings ratio. (4) Improvement in the Balance of Payments Position.

Description : The best Index of Economic Development is provided by: (1) Growth in Percapita Real Income from year to year. (2) Growth in National Income at Current Prices. (3) Growth in savings ratio. (4) Improvement in the Balance of Payments Position.

Last Answer : (1) Growth in Percapita Real Income from year to year. Explanation: Per capita Gross National Product (GNP) is the best index of development. It can be derived by dividing the GNP of a ... its world development report 1998, classified the countries in the world on the bases of per capita GNP.

Short term loans to correct Balance of Payments problems is given by (1) I.M.F. (2) I.B.R.D (3) I.D.A (4) A.D.B

Description : Short term loans to correct Balance of Payments problems is given by (1) I.M.F. (2) I.B.R.D (3) I.D.A (4) A.D.B

Last Answer : (1) I.M.F. Explanation: Upon Initial IMF formation, its two primary functions were: to oversee the fixed exchange rate arrangements between countries, thus helping national governments manage their ... to prioritize economic growth, and to provide short-term capital to aid balance-of-payments.