Consider the following statements about the Current Account of the balance of payments and indicate which statements are true?
(A) Current Account deficit equals excess of imports over sum of exports and net transfers received by a country.
(B) Current Account deficit may be covered by borrowing from foreigners.
(C) Current Account deficit may be covered by buying assets from foreigners.
(D) If India's Current Account deficit in a particular period is $ 50 million, it can be financed by net capital inflows amounting to $ 50 million.
Choose the correct answer from the options given below:
1
(A), (B), (C), (D)
2
(A), (B), (D) Only
3
(A), (C), (D) Only
4
(B), (C), (D) Only