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Which statement best explains Balance of payments?

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Question ID #26748 UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC 2026 Full-Length Mock Test 3 Medium

Which statement best explains Balance of payments?

Correct Answer: C. Systematic record of a country's economic transactions with the rest of the world
Balance of payments: Systematic record of a country's economic transactions with the rest of the world

Question: Which statement best explains Balance of payments?

A. Index tracking price changes at the wholesale level for a basket of goods

B. Excess of total expenditure over total non-debt receipts of government

C. Systematic record of a country's economic transactions with the rest of the world

D. Part of external accounts recording capital transfers and financial flows

Correct Answer: C. Systematic record of a country's economic transactions with the rest of the worldBalance of payments: Systematic record of a country's economic transactions with the rest of the world

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Which statement best explains Balance of payments? - MCQ Explanation

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Correct answer: C. Systematic record of a country's economic transactions with the rest of the world