1.

Distinguish between BOT & Balance on current account.

Answer»
Balance Of TradeBalance Of Payment
Balance of trade refers to difference between the amounts of exports and imports of visible items (goods).Current account of BOP records all those transaction relating to exports and imports or goods and services and unilateral transfers during a financial year.
It includes only visible items (goods).It includes visible , invisible items & universal transfers
It is a narrow concept and a component of balance of payment.It is a wider concept.


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