Question:
What is a country’s Balance Of Payments On Financial Account?
Answer:
The balance of the payment account of the country is made of the following financial accounts
The current account,
Following are the contents of Current Account:
on-financial and non-produced assets,
the capital account relates to dealings including debt forgiveness,
the transfer of goods and financial assets by migrants leaving or entering a country,
The capital account:
The transfer of ownership on fixed assets,
The transfer of funds received to the sale or acquisition of Fixed assets,
Gift and inheritance taxes,
Death levies,
Patents,
Royalties and uninsured damage to fixed assets