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0. Indicate the correct code of the following statements being correct or incorrect. The statements relate to the type of transactions recorded in the current/capital accounts of the Balance of Payments.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.
Both the statements are correct.
Both the statements are incorrect.
Statement (I) is correct while Statement (II) is incorrect.
Statement (I) is incorrect while Statement (II) is correct.
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