CBSE Class 11-commerce Answered
I did not understand this question as well as answer at all what is invisible items and balance of payment please explain me.
Asked by kunal | 16 Jul, 2018, 06:51: PM
Expert Answer
Balance of payment means a statement which records all transactions held between residents and rest of the world during a particular period of time. When we say residents, it refers to all individuals, firms, companies and government organisations which operate with in the domestic territory of a country.
Visible items refers to all kind of goods which are exported and imported.
Invisible items refers to all kind of services which are provided and received from rest of the world.
Balance of payment includes both visible and invisible items.
Answered by Tharageswari S | 17 Jul, 2018, 09:21: AM
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