Mr. Pranav, desires to obtain Foreign Exchange for the following purposes as on 22.01.24.Exporting of finished products to Ethiopia from his subsidiary firm located in ArgentinaImporting parts and components to his firm located in Pune from ChinaPune based firm making an overseas investment in Ghana Describe the currencies involved that he needs to trade and indicate them with a flowchart.How various components in India’s Balance of Payments will be affected due to these transactions – illustrate the various components of the BoP.

What represents the international sale and purchase of financial assets in BoP?Visible tradeInvisible tradeFinancial accountCurrent account

India’s foreign exchange reserves comprise of:

It is the sale and actual shipment of goods from the Philippines to a foreign country, irrespective of any shipping arrangement that may be agreed upon which may influence or determine the transfer of ownership of the goods so exported and paid for in acceptable foreign currency or its equivalent in goods or services, and accounted for in accordance with the rules and regulations of the Bangko Sentral ng Pilipinas (BSP);a.Product-oriented sellingb.Consultative Sellingc.Import salesd.Export SalesClear my choiceQuestion 62Not yet answeredMarked out of 1.00Flag questionTipsQuestion textIt is to the extent of any interest therein, of which the decedent has at any time made a transfer (except in case of a bona fide sale for an adequate and full consideration in money or money`s worth) by trust or otherwise, where the enjoyment thereof was subject at the date of his death to any change through the exercise of a power (in whatever capacity exerciseable) by the decedent alone or by the decedent in conjunction with any other person (without regard to when or from what source the decedent acquired such power), to alter, amend, revoke, or terminate, or where any such power is relinquished in contemplation of the decedent`s death.a.Property Interestb.Transfer in Contemplation of Deathc.Decedent`s interestd.Revocable TransferClear my choiceQuestion 63Not yet answeredMarked out of 1.00Flag questionTipsQuestion textCompute for Net VAT "exclusive" Sales/ Receipts:Total VAT Sales (VAT exclusive) = Php 99,000.00Total purchases with VAT receipts (VAT exclusive) = Php 45,000.00.a.Php 6,480.00b.Php 6,470.00c.Php 6,475.00d.Php 6,490.00Clear my choiceQuestion 64Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich is NOT considered a percentage tax?Select one:a.1/2 of 1 % stock transaction tax on shares traded through the local stock exchangeb.10 % overseas communication taxc.3 % tax on keepers of garaged.10-20% stock transaction tax on shares not traded through the local stock exchangeClear my choiceQuestion 65Not yet answeredMarked out of 1.00Flag questionTipsQuestion textIt means incorporated companya.sociolegalb.Sociedad anonimac.sociohistoricald.sociolectClear my choiceQuestion 66Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich receipts from the following entities are subject to VAT?Select one:a.Brokersb.All of thesec.Operators of hotels and motelsd.BookstoresClear my choiceQuestion 67Not yet answeredMarked out of 1.00Flag questionTipsQuestion textHow much is the tax rate for vehicles worth Php 500, 000?Select one:a.2 %b.Php 112,000+ 40% in excess of Php 500,000c.Php 12,000 + 20% in excess of Php 500,000d.Php 512,000 + 60% in excess of Php 500,000Clear my choiceQuestion 68Not yet answeredMarked out of 1.00Flag questionTipsQuestion textMr. Yusingco furnished the following records of his horse races in the first quarter of 2012:HorsesLucky 7          1st      Php 45, 000Skyline           3rd     Php 125, 000Pigeon Hole    4th      Php 30, 000Paco               2nd     Php 87, 500Jurassic          5th     NoneHow much is the percentage tax due?Select one:a.Php 5, 750b.Php 27, 850c.Php 28, 750d.Php 14, 375 Clear my choiceQuestion 69Not yet answeredMarked out of 1.00Flag questionTipsQuestion textComplete the statement:A real property which was acquired at Php 150, 000, with a fair market value on the date of the death of the decedent of Php 500, 000 but is still subject to a mortgage of Php 100, 000 shall ___Select one:a.Be included in the gross estate at Php 150, 000b.Be included in the gross estate at Php 400, 000c.Allow a deduction of Php 250, 000 from the gross estated.Be included in the gross estate at Php 500, 000Clear my choiceQuestion 70Not yet answeredMarked out of 1.00Flag questionTipsQuestion textIt means all rolls of tobacco or any substitute thereof, wrapped in leaf tobacco.a.Wholesale priceb.Cigarettesc.Retail Priced.Cigar

What is the national currency of the country in which the foreign business operates?a.Reporting currencyb.Functional currencyc.Local currencyd.None of the above

Which of the following is a part of Domestic product of India?(A) Gifts given by employer to his employees(B) Profits earned by branches of country's bank in other countries(C) Profits earned by foreign companies in India(D) Purchase of goods by foreign touristsChoose the correct answer from the options given below: