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 Law A...
Apply
700+ Campus placements at top national and global law firms, corporates, and judiciaries
UPES Integrated LLB Admission...
Apply
Ranked #28 amongst Institutions in India by NIRF | Ranked #1 in India for Academic Reputation by QS University Rankings | 16.6 LPA Highest CTC
Great Lakes PGPM & PGDM 2025
Apply
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024 | Extended Application Deadline: 10th Jan 2024
ISBR Business School PGDM Adm...
Apply
250+ Companies | Highest CTC 16 LPA | Average CTC 8 LPA | Ranked as Platinum Institute by AICTE for 6 years in a row | Awarded Best Business School...
Chandigarh University Admissi...
Apply
Ranked #1 Among all Private Indian Universities in QS Asia Rankings 2025 | Scholarships worth 210 CR
ICFAI-LAW School BA-LLB / BBA...
Apply
Ranked 1 st among Top Law Schools of super Excellence in India - GHRDC | NAAC A+ Accredited | #36 by NIRF
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