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Indicate the correct code of the following statements being correct or incorrect. The statements relate to the type of transactions recorded in the current/capital accounts of the Balance of Payments.
Statement (I): The capital account consists of long-term capital transactions only.
Statement (II): The current account includes all transactions which give rise to or use up national income.
Code:
Both the statements are correct.
Both the statements are incorrect.
Statement (I) is correct while Statement (II) is incorrect.
Statement (I) is incorrect while Statement (II) is correct.
By: santosh ProfileResourcesReport error
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