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MODEL PAPER 5 — Economics STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEconomicsMODEL PAPER 51 Mark
MCQ
Statement I: Since it is difficult to record all international economic transactions accurately, therefore we have a third element of BoP (apart from the current and capital accounts) called errors and omissions which reflects this.
Statement II: Any international transaction which results in outflow of foreign exchange is recorded on the credit side in the balance of payments accounts (the current account or capital account).
  • A
    Statement II is true and statement I is false.
  • B
    Statement I is true and statement II is false.
  • C
    Both the statements are false.
  • D
    Both the statements are true.
✓

Answer

(b) Statement I is true and statement II is false.
Explanation: Statement I is true and statement II is false.

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