Question : These items are known as above the line items.
 

Question : It refers to those transactions that are undertaken to cover the gap in the balance of payment.
 

Question : It refers to those international economic transactions, which takes place due to some economic motive such as profit maximisation.
 

Question : Calculate current account balance from the following-
Exports of visible items- 1230
Import of invisible items- 220
Import of visible items- 170
Exports of invisible items- 270
Gifts and transfer from rest of the world- 300
 

Question : Calculate current account balance from the following-
Exports of visible items- 123
Import of invisible items- 22
Import of visible items- 17
Exports of invisible items- 27
Gifts and transfer from rest of the world- 30