A country's balance of payments is an accounting record of all its transactions with all the other nations of the world.

Name: A country's balance of payments is an accounting record of all its transactions with all the other nations of the world.
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The balance of payments is indeed an accounting record of all monetary transactions between a country and the rest of the world. These transactions include exports and imports of goods and services, financial capital, and financial transfers.

A Country's Balance of Payments Is an Accounting Record of All