Balance of Payments: Accounting Concepts of Foreign Trade

The balance of Payments (BoP) and Balance of Trade (BoT) are two confusing concepts.These terms are connected with international trade accounting. In this article, I will provide a mind-map approach to study Balance of Payments. I hope the same would help in quick understanding and revision. What is Balance of Payments (BoP)? The balance of … Read moreBalance of Payments: Accounting Concepts of Foreign Trade

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