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WAEC Economics 2010 Question 45

Question 45

Balance of Payments and Exchange Rates

Which of the following group of accounts make up the balance of payments?

  1. A.The current account; company account and international multiple account and capital account
  2. B.Monetary movement account; … account
  3. C.Cash account; double entry account and current account
  4. D.Capital account; current account and monetary movement account
Show the answer and explanation

Answer: D (Capital account; current account and monetary movement account)

Explanation

The balance of payments has a current account, a capital account and a monetary movements account.