Explanation:

• Balance of Payment (BoP) of a country can be defined as a systematic statement of all economic transactions of a country with the rest of the world during a specific period usually one year. For preparing BoP accounts, economic transactions between a country and the rest of the world are grouped under - Current account, Capital account and Financial Account and Errors and Omissions.
• Components of BOP:
• Current Account: It shows export and import of visibles and invisibles (includes goods and services).
• Capital Account: It shows a capital expenditure and income for a country. It gives a summary of the net flow of both private and public investment into an economy.
• Errors and Omissions: Sometimes the balance of payment does not balance. This imbalance is shown in the BoP as errors and omissions.

Hence only statement 2nd is correct.