Which of the following statement about the Indias balance of payments is not correct ?
(1) If a foreign citizen deposits some money in a bank in India, the accounts regard this as a credit.
(2) The current account balance shows only the balance for the trade in goods and services combined.
(3) Allowing for errors and omissions, the accounts always balance.
(4)If the country s reserves of foreign currencies increase then there is a minus sign for this entry.