Commerce
WAEC 2015
The insurance services rendered to a foreign shipping company are treated as?
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A.
invisible export
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B.
invisible imports
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C.
visible export
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D.
balance of payment
Correct Answer: Option A
Explanation
Invisible export is Any export that does not have a tangible physical presence (e.g. expertise, insurance underwriting). Although physical imports exceeded exports, when invisible exports were accounted for the balance of payments was healthy.
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