JAMB Commerce 2011 Objective — Question 12
Question 12 of 49 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2011 Objective paper, with the correct answer and a full explanation.
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The three components of a country's balance of payment are
- A. A. capital account, trade account and business record
- B. B. current account, capital account and monetary movement accountCorrect
- C. C. sales account, profit and loss account and capital account
- D. D. monetary movement account, trade account and sales ledger
Explanation
The balance of payment can be divided into capital account (records capital goods flow), current account (records consumer goods flow), and monetary movement account (records changes in money values and investments).
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