Gifts made by individuals and the government to foreigners and gifts received from foreigners are known…
Gifts made without a corresponding economic return are unilateral transfers. Their classification as current or capital transfers depends on their nature.
Choose your answer
Gifts made by individuals and the government to foreigners and gifts received from foreigners are known as what transactions in balance of payment account ?
Answer and explanation
Correct answer A
Gifts made without a corresponding economic return are unilateral transfers. Their classification as current or capital transfers depends on their nature.
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RPSC School Lecturer (School Education)