Question : Social accounting system in India is classified into
Option 1: Income,product and expenditure
Option 2: Enterprise, households and government
Option 3: Assets, liabilities and debt position
Option 4: Public sector, Private sector and Joint sector
Correct Answer: Income,product and expenditure
Solution : The correct answer is Income,product and expenditure.
Social accounting measure is the method of estimating the national income of India. It is the value of total goods and services produced in India i.e GDP of India. In India GDP is measured in 3 ways- Income method, expenditure method, and product method/value added method.
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