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

Income from sale of property, inherited from a relative.

GST received by government.

Direct purchases made abroad by government.

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

Question

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

Income from sale of property, inherited from a relative.
GST received by government.
Direct purchases made abroad by government.
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 · Accepted Answer

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.

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Question : Which of the following are the part of national income?

Purchase of equipments for installation in a factory.

Construction of a new house.

Brokers commission on sale of shares.

Question : Which of the following are the part of national income?

Expenditure on education of children by a family.

Purchase of rented factory building by the factory owner.

Purchase of furniture by a firm.

Profit earned by branches of

Question : Which of the following are excluded from national income?

Winning of a lottery prize.

Transport expenses by a firm.

Sale of bond by a company.

Purchase of rented factory building by the factory owner.

Question : Which of the following are the part of national income?

Direct purchase made abroad by government.

Internet on public debt.

Earning of shareholders from the sale of shares.

Expenditure on advertisements by a firm.

Question : Which of the following are the part of national income?

Earning of shareholders from the sale of shares.

Purchase of tractor by a farmer.

Brokers commission on sale of an old car.

Purchase of goods by foreign tourists.