Question

State with valid reason, which of the following statement is true or

false:

(a) National income calculated by income method and by product

method shows difference in the resultant.

(b) Net factor income from abroad is included in national income as

it is a bilateral transfer​

Answer 1

Answer:

) National income is computed every year. - True

Explanation:

The above statement is true. National income is the net value of all the final goods and services produced by the normal residents of a country during an accounting year. It is calculated every year. The accounting period for calculating national income is from the 1st of April to the 31st of March of every year.

Net factor income from abroad is factor income received from abroad minus factor incomes paid abroad.

Equation:

Net factor income from abroad= Factor income earned by our residents from the rest of the world - Factor income earned by non- residents in our domestic territory.

Explanation:

please mark me brilliant answer