Given below are two statements, one labeled as Assertion (A) and the other as Reason (R):
Assertion (A): When the payments made by a country exceed its receipts from the trade of goods, services, transfer, and net income called Current Account Deficit (CAD).
Reason (R): Current Account Deficit (CAD) occurs when a country exports more goods, services, and capital.
Choose the correct answer from the codes given below:

Correct option is C

Assertion A is correct.
When the payments made by a country exceed its receipts from the trade of goods, services, transfer, and net income called Current Account Deficit (CAD).
Reason R is incorrect.
A current account deficit indicates that a country is importing more than it is exporting.