PRC-3 · Chapter 20 · Question 10 of 30
In the Balance of Payments, which specific account is responsible for recording the daily international trade of physical 'visible' goods (like machinery and textiles) as well as 'invisible' services (like tourism and insurance)?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) The Current Account
Explanation
The Current Account in the Balance of Payments records all flows of money related to the trade of physical goods, services, primary income, and secondary transfers.
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