The Difference Between the Balance on Current Account and the Balance

question 32

Multiple Choice

The difference between the balance on current account and the balance on capital account is:

• A) the balance of payment
• B) statistical discrepancy
• C) the balance of trade
• D) official settlements balance

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Definitions:

VoIP

Voice over Internet Protocol, a technology that allows for voice communications and multimedia sessions over Internet Protocol networks.

Digital Phone

A telephone that uses digital signals to transmit voice communications, as opposed to traditional analog telephones.

Wired Network

A type of network where devices are connected using cables, offering more stability and security compared to wireless connections.

Traditional Phone Network

The landline telephone system, also known as the public switched telephone network (PSTN), which uses copper wires to transmit voice communication.