Multiple Choice Questions on Identify the correct matched pair from Column A to Column B Column A 1 Import of Petroleum........... for Common University Entrance Test (CUET) Preparation

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Multiple Choice Questions

Identify the correct matched pair from Column A to Column B Column A 1 Import of Petroleum...........

Economics (CUET) Balance of Payments
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    Identify the correct matched pair from Column A to Column B:

    Column A

    (1) Import of Petroleum from Iran

    (2) BPO services provided by India to USA

    (3) Investment by Saudi Aramco in RIL

    (4) Export of Spices to Greece

    Column B

    (a) Debit side of Current Account

    (b) Credit Side of Capital Account

    (c) Debit Side of Capital Account

    (d) Debit Side of Current Account

    1-(a)

    Correct Answer

    2 - (b)

    Incorrect Answer

    3-(c)

    Incorrect Answer

    4-(d)

    Incorrect Answer
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    Explanation:

    Option (1) is correct.
    Explanation: Import of goods and services are recorded in current account. Import is recorded on the debit side as it leads to an outflow of foreign exchange in the country.

    By: Milap Bansal
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