Question :
Option 1: Both are true
Option 2: Both are false
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 2 is true and statement 1 is false.
Correct Answer: Both are false
Solution : The monetary burden of direct taxes born by those whom they are levied. The liability to pay is refers to as the impact of tax. Hence option B is correct .
Question : Statement 1: National income at factor cost is obtained by adding indirect taxes to the net national product.
Statement 2: Indirect taxes are taxes levied on the production and sale of goods and services.
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