mention precautions of Value added method,income and expenditure method.
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Precautions of value added methods are as follows :
Cost of intermediates good can't be counted in final goods.
Second hand goods and services are not a subject to be marked with MSP.
Value added goods should include all the printed cost included in it.
Precautions to be Taken in This Calculation
Intermediate goods must not be added in the National Income as these are already accounted for in the valuation of final products. ...
Dealings (sale and purchase) of second hands goods should not be included in this calculation.
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