A nation's balance-of-payment can be grouped into several categories. List and describe these categories.© BrainMass Inc. brainmass.com June 4, 2020, 4:50 am ad1c9bdddf
The balance of payments is a summary statement of a country's payments and debts to foreign countries and the receipts and credits received from foreign countries for a specified period, generally one year. The Balance of Payments (BoP) can be represented with this equation: Current Account Balance + Capital Account Balance + Balancing item = 0.
The BoP is expected to sum to zero as any deficit in one account would be ...
The categories included within a nation's balance-of-payment, as well as their descriptions.