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Which of the following is not accounted for in the capital account under the Balance of Payments?

1. Direct Investment
2. External Commercial Borrowing
3. Remittances and Grants
4. Portfolio Investment

Correct answer: Remittances and Grants

Solution

The capital account records capital transfers and transactions in non-produced, non-financial assets, along with investment flows. Remittances and grants are generally treated under the current account or current transfers, not the capital account.

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