13 Views

Question : Which of the following are not included in national income?

  1. Income from sale of property, inherited from a relative.
  2. GST received by government.
  3. Direct purchases made abroad by government.
  4. Purchase of equipments for installation in a factory.

Option 1: Only 1&2

Option 2: Only 2&3

Option 3: Only 3&4

Option 4: 1&3


Team Careers360 12th Jan, 2024
Answer (1)
Team Careers360 19th Jan, 2024

Correct Answer: Only 1&2


Solution :

Received from sale of property inherited from relative will not be included as it is sale of such property is by transfer of an already existing object.
GST received by the government is not a part of national income as it is an indirect tax in the compulsory transfer payment.
Hence, Option A is correct.

Related Questions

Amity University Noida B.Tech...
Apply
Among Top 30 National Universities for Engineering (NIRF 2024) | 30+ Specializations | AI Powered Learning & State-of-the-Art Facilities
Amrita University B.Tech 2026
Apply
Recognized as Institute of Eminence by Govt. of India | NAAC ‘A++’ Grade | Upto 75% Scholarships
Amity University, Noida | Law...
Apply
700+ Campus placements at top national and global law firms, corporates and judiciaries
Great Lakes Institute of Mana...
Apply
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.8 LPA Avg. CTC for PGPM 2025
Manav Rachna University Law A...
Apply
Admissions open for B.A. LL.B. (Hons.), B.B.A. LL.B. (Hons.) and LL.B Program (3 Years) | School of Law, MRU ranked No. 1 in Law Schools of Excelle...
Nirma University Law Admissio...
Apply
Grade 'A+' accredited by NAAC | Ranked 33rd by NIRF 2025
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books