Q. Which of the following is not a part of the final expenditure? Consumer goods purchased by the government Consumer goods exported to the rest of the world Seeds purchased by the farmers Government fixed investment expenditure Answer: Seeds purchased by the farmers
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Q. Which of the following is irrelevant in the estimation of compensation of employees? Free accommodation provided to the school principles Free education of the students whose parents are working in schools Wages and salaries in cash Old age pensions Answer: Old age pensions
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Q. Which of the following is not included in inventory investment? Change in the stock of finished goods Change in the stock of semi-finished goods Change in the stock of raw material Change in sales during the year Answer: Change in sales during the year
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Q. Compensation of employees includes: wages and salaries in cash wages and salaries in kind pension on retirement all of these Answer: all of these
Q. Increase in the price of commodities due to an increase in taxes assumes relevance in the estimation of NNP at MP because: taxes are compulsory payments taxes are trAnswer:fer payments taxes are paid out of the income of the households taxes cause a rise in the market price of the commodities which otherwise would
Q. Difference between closing stock and opening stock during an accounting year is known as: increase in stock change in stock decrease in stock None of these Answer: change in stock
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Q. Which of the following items is not included while estimating the GNP of a country at market price? Sales of the enterprises Indirect taxes Remittances by NRIs Subsidy Answer: Remittances by NRIs
Q. Own account production of services is not included in national income because: services are different from goods services are not productive it is difficult to measure the market value of such services None of these Answer: it is difficult to measure the market value of such services
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Q. As a result of double counting, national income is: over-estimated Under-estimated correctly estimated not estimated for the entire year of accounting Answer: over-estimated
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Q. Which of the following is not an element of final consumption expenditure? Household expenditure on food Government final consumption expenditure Household expenditure on education Expenditure on raw material Answer: Expenditure on raw material
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