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What is the balance of payments account that records the amount of foreign currency the government buys or sells?
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∙ 11y ago
official revenue accounts
Wiki User
∙ 11y ago
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What is official reserve account?
The official reserve account, a subdivision of the capital account, is the foreign currency and securities held by the government, usually by its central bank, and is used to balance the payments from year to year.
How is the balance of an account determined?
The balance of payments is composed of the current account and the capital account, plus the monetary account (changes in reserve assets) which is really a settlement account of the above two.
Difference between income and expenditure account and p and l account?
Differences Between Receipts And Payments Account And Income And Expenditure AccountThe following are the main differences between receipts and payments account and income and expenditure account: 1. NatureReceipts and payments account is a summary of cash transactions for a period and it is a real account. Income and expenditure account is a summary of expenditure and income like trading and profit and loss account and it is a nominal account.2. ObjectiveReceipts and payments account is prepared to show cash and bank receipts and payments during the period to derive closing balance of cash and bank. Income and expenditure account is prepared to show the net result of the operation during the period to derive surplus or deficit.3. RecordingAll cash and cheque receipts are recorded on debit side of receipts and payments account where as all cash and bank payments are recorded on credit side. In income and expenditure account all expenditure of revenue nature are recorded on debit side and all incomes of revenue nature are recorded on credit side.4. Capital And Revenue ItemsThere is no distinction between capital and revenue receipts and payments in receipts and payments account. All expenses and incomes of revenue nature are recorded on accrual basis in income and expenditure account.5. ContentsReceipts and payments account contains only cash and bank transactions. Income and expenditure account contains both cash and non-cash expenses and incomes of revenue nature.6. Balance Sheet RequirementReceipts and payments account is not required to prepare balance sheet. Income and expenditure account is required to prepare balance sheet.7. AdjustmentsNo adjustments are required in receipts and payments account. In income and expenditure account adjustments are made because it is prepared on accrual basis.
What is the difference between a current balance and an available balance on a checking acct?
The account balance will reflect any payments made into the account providing the account is on real time banking. So if you pay in any cheques the account balance will reflect this. The available balance will take into consideration any earmarks on the debit card which are due to debit and also any cheques you may have paid in that are at the moment still uncleared on the account.
Which method for calculating a credit card balance does not take into account the purchases or the payments made during the current billing cycle?
Adjusted balance method APEX
A government may its currency to correct its balance-of-payments conditions?
devalue
What is official reserve account?
The official reserve account, a subdivision of the capital account, is the foreign currency and securities held by the government, usually by its central bank, and is used to balance the payments from year to year.
Balance of payments deficit?
A balance of payments deficit means there is an imbalance in the balance of payments of a country where the payments the country makes are more than the payments they received. It means the balance of payments is negative. A balance of payments deficit is,when government expenditure is more than government revenue
What is usually the largest single account in the overall balance of payments?
The largest single account in the overall balance of payments is, for most countries, the current account.
What is a basic balance?
A basic balance is the net balance of the combination of a current account and a capital account in a balance of payments.
How does a country balance of payments affect the value of its currency?
can cause fluctuations in the exchange rate between its currency and foreign currencies.
How does the exchange rate of nations currency influence the balance of payments of an economy?
bhag madarchod
The part of the balance of payments account that lists all long-term flows of payments is called?
Balance of payments is a method that is used to monitor international monetary transactions over a specific period of time. The long term flows of payments is part of the current account.
How is the balance of an account determined?
The balance of payments is composed of the current account and the capital account, plus the monetary account (changes in reserve assets) which is really a settlement account of the above two.
Why does the balance of payments always balance even though the balance of trade does not?
he balance of payments defines an economy's account of receipts and payments.it includes all current accounts and capital accounts. a deficit in current account is managed by creating a surplus in capital account and vice-versa.however,balance of trade is just the balance of exports and imports,exports receipts can be greater than import payments,this creates surplus in the economy and deficit in the other case. balance of trade is a component of BOP.
What is the measure bop to the nearest degree?
BOP (Balance of Payments) is measured in currency units, not degree.
Why can't all the balance of payments accounts be in surplus?
The balance of payments accounts cannot be in surplus because there is always a balance in economics. For example, if you used cash assets to purchase equipment, the equipment account will increase but the cash assets account will decrease.
