The following table shows the balances in the three main accounts of a country's balance of payments account: Credits (£m) Debits (£m) Current account 1000 1200 Capital account 10 20 Financial account 1900 1700 How much are net errors and omissions? A) -£20m B) +£20m C) -£10m D) +£10m

The following table shows the balances in the three main accounts of a country's balance of payments account: Credits (£m) Debits (£m) Current account 1000 1200 Capital account 10 20 Financial account 1900 1700 How much are net errors and omissions? A) -£20m B) +£20m C) -£10m D) +£10m

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The following table shows the balances in the three main accounts of a country's balance of payments account:

	Credits (£m)	Debits (£m)
Current account	1000	1200
Capital account	10	20
Financial account	1900	1700

How much are net errors and omissions?

A) -£20m
B) +£20m
C) -£10m
D) +£10m

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