the actual production In double counting, the total production is
Answers
Explanation:
Double counting in accounting is an error whereby a transaction is counted more than once, for whatever reason. But in social accounting it also refers to a conceptual problem in social accounting practice, when the attempt is made to estimate the new value added by Gross Output, or the value of total investments.
Anwer;
Double counting means counting the value of the same product more than once. In the calculation of the national income, the value of the final goods and services produced by all the production unit of a country during the year are counted. The value of intermediate goods is excluded. When we calculate the value of final goods, the value of intermediate goods is included. Every producer considerS his good as the final product irrespective of whether it will be used as an intermediate good or a final good.
Double counting means counting the value of the same product more than once. In the calculation of the national income, the value of the final goods and services produced by all the production unit of a country during the year are counted. The value of intermediate goods is excluded. When we calculate the value of final goods, the value of intermediate goods is included. Every producer considerS his good as the final product irrespective of whether it will be used as an intermediate good or a final good.For example, a company