Q.
1

Statement (I): The capital account consists of long-term capital transactions only.

Statement (II): The current account includes all transactions which give rise to or use up national income.

Code:

 

  • A

    Both the statements are correct

     

  • B

    Both the statements are incorrect

     

  • C

    Statement (I) is correct while Statement (II) is incorrect

     

  • D

    Statement (I) is incorrect while Statement (II) is correct