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11th Standard

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11th Standard

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11th Commerce - Balance of Trade and Balance of Payments Three Marks Questions

Published on: 15/10/2019

Balance of Trade and Balance of Payments

Download Tamil Nadu 11th Standard Commerce question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.

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Std: 11th Standard - Commerce

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Questions:

Generic 3

7 x 3 = 21

What are the credit items shown in the official capital account?

What are all the elements of current account balance?

What are the Debit items shown in Current Accounts?

State the Components of capital account.

What are the credit items shown in current accounts(any 3)?

What does Balance of Payment Disclose?

Why is Balance of Payment prepared?

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Answers Key:

Generic 3

7 x 3 = 21

The credit items shown in official account are:
(i) Foreign Short Term investments in home country
(ii) Foreign Long Term investments in home country
(a) Direct investment in the home country
(b) Foreign investments in securities of home country
(c) Foreign Government loans to home country

The current account balance includes two items
(i) Visible trade - Import and export of goods.
(ii) Invisible trade - Invisible service items like banking, shipping, insurance, travel and transportation.

The following are the debit items of Current Account.
(i) Goods Import Visible, and
(ii) Invisible Imports includes
(1) Transport services purchased from Foreign Countries.
(2) Banking services purchased from Foreign Countries.
(3) Insurance services purchased from Foreign Countries.
(4) Visit our tourists to Foreign Countries.
(5) Other services purchased from Foreign Countries.
(6) Interest paid on loan in home country.

The Capital Account consists of three components :
(i) Private Capital
(ii) Banking Capital
(iii) Official Capital

Credit Items :
i. Goods Export (visible)
ii. Invisible exports
(1) Transport service sold abroad
(2) Banking services sold abroad
(3) Insurance service sold abroad
(4) Income received on Loan and Investment made in Foreign Countries.
(5) Expenses incurred by Foreign tourists in India.

A balance of payment surplus indicates that country's exports are more than its imports and its government and residents are savers.

Balance of payment is the principal tool for analyzing the monetary position of international trade of a country just like Receipt and Payment account of enterprise revealing the net effect of cash movements during in an enterprise to a particular period.