Definition of equipoise of Payments:
Standard Definitionn countries, including the price of imports and the outflow of corking and gold, along with the total receipts from abroad, including the price of exports and the inflow of swell and gold.
IMF definition
The balance of payments is a statistical statement that summarizes transactions amid residents and nonresidents during a period.
Characteristics of balance of payment
    It is an accounting record of all monetary transactions between a country and the rest of the world.
    The hump summarizes multinational transactions for a specific period, usually a year.
    It is prepared in a single currency, typically the house servant currency for the country concerned.
    It reflects all payments and liabilities to foreigners (debits) and all payments and obligations received from foreigners (credits)
    Balance of payments is one of the major indicators of a countrys status in international work.
Components of Balance of Payment (BOP)
   trustworthy Account:
       a. Goods and Services account
       b. Income account
       c. Current transfers account
   Capital Account:
       a.
Capital Transfers
       b. Long Term Loans
       c. bunco Term Loans
       d. Reserves
Current Account:
 a. Goods & Services: It covers merchandise trade & services.
    1. Merchandise Trade: It records the value of exports and imports, of tangible goods.
    2. Services: it consists of the secure and sale of:
           ? Communication services
           ? Construction services
           ? Insurance services
           ? Financial services
           ? electronic computer and information services
   Income Account:
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