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This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
Calculate the value added by firm A and firm B. |
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Answer» Correct Answer - Rs. 4,800 crores Rs. 1,640 crores Value added by firm A =Domestic Sales by firm A+ Exports by firm A - Purchase by firm A =4,000+1,000-200 = Rs. 4,800 crores Value added by firm B =Sales by firm B- Purchase by firm B =2,940-1,300 =Rs. 1,640 crores |
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| 52. |
From the following data, calculate "gross value added at factor cost". |
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Answer» Correct Answer - Rs. 105 crores Gross Value Added at Factor Cost =Sales+Change in stock - Purchase of raw materials+Subsidies =180+15-100+10 =Rs. 105 crores |
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| 53. |
Gross domestic capital formation is equal to :A. Gross fixed capital formation plus closing stockB. Gross fixed capital formation plus opening stockC. Net fixed capital formation plus consumption of fixed capital plus change in stockD. Net fixed capital formation plus consumption of fixed capital |
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Answer» Correct Answer - C C |
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| 54. |
National product at current prices is higher than national product at constant prices during a period of :A. Rising pricesB. Falling pricesC. Constant pricesD. Both (a) and (b) |
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Answer» Correct Answer - A A |
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| 55. |
Gross domestic product at market price is equal to :A. compensation of employees + operating surplus + mixed income of self-employed.B. Compension of employees + operating surplus + mixed income of self-employed + consumption of fixed capital + net indirect taxesC. Compensation of employees + net current transfers from abroadD. Compensation of employees + net factor income from abroad |
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Answer» Correct Answer - B B |
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| 56. |
Calculate National Income by Income and Expenditure method. |
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Answer» Correct Answer - Rs. 480 crores National Income by Income method = Method income of self employed+ Compensation of employees+ Rent+ Interest + Profit + Net factor income from abroad =35+250+75+25+100(-5) = Rs. 480 crores National Income by Expenditure method = Final consumption expenditure of Private sector+ Final consumption expenditure of Government sector+Gross domestic fixed captial formation+(Closing stock-Opening stock)+Net Exports-Consumption of fixed capital + Net Factor Income from abroad- Net Indirect tax = 350+100+70+(25-15)+(10-20)-10+(-5)-25 = Rs. 480 crores |
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| 57. |
Find National Income from following using expenditure method : |
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Answer» Correct Answer - Rs. 1365 Crores National Income by Expenditure Method = Private Final Consumption Expenditure+ Government Final Consumption Expenditure+Net Domestic Capital Formation + Net Exports + Net Factor Income from Abroad - Net Indirect Taxes =(v)+(ix)+(vi)+(iii)+(viii)-(ii) =900+400+200+(-25)+(-10)-100 |
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| 58. |
Calculate Gross National Product at Market Prices by: (a) Expenditure Method and (b) Income Method. |
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Answer» (a) Gross National Product at Market Prices (Expenditure Method) =(ii)+(iv)+(vii)-(viii)+(xi) =200+50+60-10+(-20) = Rs. 280 crores (b) Gross National Product at Market Prices (Income Method) =(i)+(iii)+(v)+(vi)+(xiii)+(ix)+(x)+(xi) =100+20+10+10+110+20+30+(-20) =Rs. 280 crores |
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| 59. |
Calculate: (a) Gross domestic product at market price, and (b) National Income : |
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Answer» Correct Answer - Rs. 9100 crores Rs. 8780 crores (a) Gross Domestic Product at Market Price =(ii)+(i)+(iii)+(iv) =3500+4000+1100+500 =Rs. 9100 crores (b) National Income =`GDP_(MP)` -(ix)+(v)-(vi) =9100-120+100-300 =Rs. 8780 crores |
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| 60. |
Calculate the Operating Surplus. |
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Answer» Correct Answer - Rs. 24000 crores Operating Surplus = Value of output - Purchase of raw material - Net indirect tax- Wages and Salaries = 700000-18000-3000-25000 = Rs. 24000 crores |
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| 61. |
Calculate GDP at MP |
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Answer» Correct Answer - Rs. 2200 crores GDP at MP = Private Final Consumption Expenditure+ Government Final consumption Expenditure+ Gross Fixed Capital formation + Change in stock + (Exports- Imports) = 1200+200+300+400+(600-500) = Rs. 2200 crores |
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| 62. |
If a farmer sells wheat to miller for Rs. 500 and miller sells flour to baker for Rs. 700 and baker sells bread to consumers for Rs. 1000, then total value added by miller and baker is :A. 500B. 300C. 1700D. 1200 |
| Answer» Correct Answer - A | |
| 63. |
National Income can be calculated by 3 methods. By which method, we get the maximum value of National Income ?A. Expenditure methodB. Income methodC. Value Added MethodD. All 3 methods give same value of national income |
| Answer» Correct Answer - D | |
| 64. |
Find out Gross National Product at Market Price : |
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Answer» Correct Answer - Rs. 795 crore Gross National Product at Market Price `(GNP_(MP))` =ii+v+(vi-iv-ix+iii)-viii-vii = 500+150+(100+10-10+50)-20-(-15) = Rs. 795 crore |
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| 65. |
If `NDP_(FC)=Rs. 1500` and Net Factor Income to Abroad=Rs. 500, then `NNP_(FC)` will be :A. 2000B. 1500C. 1000D. 2500 |
| Answer» Correct Answer - C | |
| 66. |
Calculate National Income `(NNP_(FC))` by income and output method. |
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Answer» Correct Answer - Rs. 460 crores National Income `(NNP_(FC))` by Income Method =(x)+(xi)+(xii)+(xiii)+(xiv)+{(v)-(vi)} =200+170+40+30+25+{10-15} = Rs. 460 crores National Income `(NNP_(FC))` by Output Method ={(i)-(iii)}+{(ii)-(iv)}+{(v)-(vi)}-(vii)-{(viii)-(ix)} ={1000-500}+{400-300}+{10-15}-50-{100-20} = Rs. 460 crores |
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| 67. |
Calculate national income by Income and Expenditure method from the following data : |
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Answer» Correct Answer - Rs. 2923 crores National Income `(NNP_(FC))` by Income method =(i)+(iii)+(vi)+(viii)+(ix)+(xii)+(xiii)+(xiv)+(xv)+(xviii) =1997+132+95+52+92+10+264+26+201+54 =Rs. 2923 crores National Income `(NNP_(FC))` by Expenditure method =(x)+(xi)+{(xx)+(xvii)}+{(xvi)-(xix)}-(vii)-{(iv)-(v)}+(viii) =574+1805+{100+7}+{900-323}-81-{200-89}+52 =Rs. 2923 crores |
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| 68. |
Which of the following is a synonym of Undistributed Profits ?A. Savings of private corporate sectorB. Reserves and SurplusC. Retained EarningsD. All of these |
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Answer» Correct Answer - D D |
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| 69. |
Compute Domestic Income : |
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Answer» Correct Answer - Rs. 4755 Crore Domestic Income =ix+ii+iv-vi+vii-x-viii =2200+2500+1190-100-420-145-470 =Rs. 4755 Crore |
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| 70. |
Which one is included in National Income ?A. Winning from LotteryB. Milk purchase by a dairy shopC. National Debt InterestD. None of these |
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Answer» Correct Answer - D D |
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| 71. |
Calculate National Income: |
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Answer» Correct Answer - Rs. 720 crores National Income =(i)+(ii)+(iii)+(iv)+(vi) +(v) =60+40+5+20+600+(-)5 =Rs. 720 crores |
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| 72. |
Calculate (a) National Income by Expenditure Method, and (b) National Income by Income Method. |
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Answer» Correct Answer - Rs. 2130 crores Rs. 2130 crores (a) National Income by Expenditure Method =(v)+(i)+(vi)+(ii)+{(iv)-(viii)}-(iii)-{(x)-(vii)}+{(ix)+(xii)} =900+500+800+350+{200-350}-50-{200-50}+{(-)60+(-)10} = Rs. 2130 crores (b) National Income by Income Method =550+800+850+{(-)60+(-)10} = Rs. 2130 crores |
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| 73. |
Calculate (a) National Income by Income and Expenditure Method, (b) Gross Domestic Product at Market Price. |
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Answer» Correct Answer - Rs. 13100 crores Rs. 13100 crores (a) National Income by Income Method =(ii)+(iii)+(vi)+{(xiii)-(xiv)} =9000+3000+1000+{800-700} = Rs. 13100 crores National Income by Expenditure Method =(i)+(iv)+(v)+(vii)+{(ix)-(xi)}-{(viii)-(x)}+{(xiii)-(xiv)} =7000+4200+1700+500+{600-800}-{300-100}+{800-700} =Rs. 13100 crores (b) Gross Domestic Product at Market Price =National Income +(xii)+{(viii)-(X)}-{(xiii)-(xiv)} =13000+11000+{300-100}-{800-700} = Rs. 14300 crores |
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| 74. |
Calculate Operating Surplus : |
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Answer» Correct Answer - Rs. 240 crores Operating Surplus =(vi)-(iii)-(ii)-(i)-(vii) =1050-50-150-110-500 =Rs. 240 crores |
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| 75. |
From the following data, calculate (a) Gross Domestic Product at Market Price , and (b) Subsidies. |
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Answer» Correct Answer - Rs. 1800 crores (a) Gross Domestic Product at Market Price `(GDP_(MP))` = (i)+(v)+(vi)+(ix)+{(x)-(xi)} = 7000+13000+10000+44000+{4800-5600}= Rs. 73200 crores (b) Subsidies = `NNP_(FC)`+Depreciation-NFIA+Indirect taxes-`GDP_(MP)` =61700+4000-(-)300+9000-73200 =Rs. 1800 crores |
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| 76. |
Calculate National Income from the following data : |
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Answer» Correct Answer - Rs. 495 crores National Income `(NNP_(FC))` = (iii)+(v)+(vii)+(ii)-(iv)-{(vi)-(i)} = 400+100+50+(-)20-10-{30-5} =Rs. 495 crores |
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| 77. |
Calculate: (a) National Income, and (b) Consumption of fixed capital. |
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Answer» Correct Answer - Rs. 25 crores (a) National Income `(NNP_(FC))` = (iii)+(iv)+(v)+(viii)+(ix)+(x)+(xi) =170+10+20+10+45+15+3=Rs. 273 crores (b) Consumption of fixed capital =`GDP_(MP)`+NFIA-(Indirect taxes-Subsidies)-`NNP_(FC)` =320+3-(30-5)-273=Rs. 25 crores |
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| 78. |
The sum of net value added at factor cost of all the producing units of an economy gives :A. Gross domestic product at market priceB. net domestic product at market priceC. Net domestic product at factor costD. Gross domestic product at factor cost |
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Answer» Correct Answer - C C |
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| 79. |
Calculate Gross National Product at Market Price from the following data : |
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Answer» Correct Answer - Rs. 840 crores Gross National Product at Market Price `(GNP_(MP))` = (ii)+(iv)+(vi)+(vii)+(viii)+(iii)+(i)+{(v)-(ix)} = 70+40+100+10+600+30+(-)25+{20-5} = Rs. 840 crores |
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| 80. |
Measurement of national income at constant prices constitute its :A. Nominal valueB. Real valueC. Both (a) and (b)D. Neither (a) nor (b) |
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Answer» Correct Answer - B B |
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| 81. |
calculate National income from the following data : |
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Answer» `GDP_(MP)=PFCE+GFCE+GDCF+`Net exports `=(v)+(vi)+(vii)-(iv)` `=5000+3000+1000-200` `=9000-200` `= Rs 8800` Crore `N NP_(FC)=GDP_(MP)-"Dep."+NFIA-NIT` `=8880-150-(-50)-800` `=8800-150+50-800` `= Rs 7900` Crore. |
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| 82. |
Calculate National Income and Depreciation from the following data : |
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Answer» Correct Answer - Rs. 25 crores National Income =(vi)+(iv)+{(ii)+(vii)}-(iii)+(viii)-(i) =600+200+{100+10}-(-20)+5-5 = Rs. 930 crores Depreciation = Gross domestic fixed capital formation - Net domestic fixed capital formation = 125-100 = Rs. 25 crores |
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| 83. |
Calculate National Income. |
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Answer» Correct Answer - Rs. 34700 crores National Income `(NNP_(FC))` =Compensation of employees+Operating surplus+Mixed income of self employed + Net factor income from abroad =13300+5000+16100+300= Rs. 34700 crores |
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| 84. |
Calculate National Income from the following data : |
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Answer» Correct Answer - Rs. 550 crores National Income =(ii)+(iv)+(vi)+(viii)-(iii)+(v) = 400+100+80+40-60+(-)10 =Rs. 550 crores |
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| 85. |
From the following data, calculate National Income. |
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Answer» Correct Answer - Rs. 1380 crores National Income `(NNP_(FC))` =Compensation of Employees+ Rent+ Profit + Interest + Net factor Income from Abroad = 800+200+300+100+(-20) = 1400-20 = Rs. 1380 crores |
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| 86. |
Calculate the Operating Surplus. |
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Answer» Correct Answer - Rs. 1500 crores Operating Surplus = Sales - Intermediate consumption- Compensation of employees - Net indirect taxes - Consumption of fixed capital - Mixed income = 4000-600-800-500-200-400 = Rs. 1500 crores |
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| 87. |
Estimate National Income using Expenditure Method from following data : |
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Answer» `GDP_(MP)-PFCE+GFCE+GDCF+`Net exports `=(iv)+(vii+viii+ix)+(x+iii)+(v)` `=500+(100+10+100)+(160+10)+(-25)` `=500+210+170-25=880-25= rs 855` crore `N NP_(FC)=GDP_(MP)-"Dep."+NFIA-NIT` `=855-10+10-150= Rs 705` crore |
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| 88. |
Calculate National Income by expenditure and output method. |
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Answer» Correct Answer - Rs. 1110 crores National Income by Output Method ={(iv)-(vii)}+{(v)-(viii)}+{(vi)-(ix)}-(x)-{(xi)-(xiii)}+(xiv) ={900-400}+{800-300}+{400-100}-80-{100-10}+(-20) = Rs. 1110 crores National Income by Expenditure method =(i)+(ii)+(iii)+(xii)-(x)-{(xi)-(xiii)}+(xiv) = 250+(-50)+1000+100-80-(100-10)+(-20) =Rs. 1110 crores |
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| 89. |
From the following information, estimate : (i) Value of output, (ii) Net value added at factor cost, (iii) Prove that income generated is equal to net value at factor cost. |
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Answer» Correct Answer - Rs. 7300 crores (i) Value of output = Sales+Increase in unsold stock =10625+600 =Rs. 11225 crores (ii) Net Value Added at Factor Cost = Sales+ Increase in unsold stock - Purchase of raw materials - Depreciation- (Indirect taxes- Subsidies) =10,625+600-2,625-500-(1200-400) =Rs. 7300 crores (iii) To prove Income Generated = Net Value Added at Factor Cost Income Generated = Operating surplus + Wages and Salaries + Mixed incomes = 3740+3460+100= Rs. 7300 crores So, Net Value Added at Factor Cost = Income Generated = Rs. 7300 crores |
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| 90. |
Operating surplus includesA. wagesB. mixed incomeC. rentD. all of these. |
| Answer» Correct Answer - C | |
| 91. |
Calculate: (a) Operating Surplus, and (b) Domestic Income : |
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Answer» (a) Operating Surplus =(ii)+{(iv)+(vii)+(viii)} =800+460+940+300 (b) Domestic Income = (i)+Operating Surplus+(x) = 2000+2500+200 =4700 crores |
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| 92. |
Calculate National Income using Expenditure Method from following data : |
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Answer» `GDP_(MP)=PFCE+GFCE+GDCF+`Net exports `=(i+viii-ix)+(ii)+(vi+vii)+iv` `=(1750+50-100)+(100)+(300+50)+(-25)` `=1700+100+350-25` `= Rs 2125` crore `N NP_(FC)=GDP_(MP)-"Dep."+NFIA-NIT` `=2125-25+(-20)-100=2125-145` `= Rs 1980` crore |
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| 93. |
Calculate Net National Product at market price : |
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Answer» `NDP_(MP)=PFCE_GFCE+NDCF+` Net exports `=500+100+80+(-20)= Rs 660` Cr. `N NP_(MP)=NDP_(MP)+NFIA` `=660-20= Rs 640` Cr. |
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| 94. |
Classify the following expenditures as intermediate consumption expenditure and final consumption expenditure. (i) Expenditure on research and development by Tata. (ii) Insurance premium paid by a firm to an insurance company. (iii) Insurance premium paid by households to an insurance company. (iv) Expenditure on repairs and maintenance of plant and machinery. (v) Expenditure incurred by a firm on purchase of equipments. (vi) Advertising expenditure incurred by Airtel on promotion of its products. (vii) Business expenses of the employees on tour and entertainment. |
| Answer» Intermediate Consumption Expenditure : (i), (ii), (iv), (vi), (vii), Final Consumption Expenditure : (iii), (v). | |
| 95. |
How are following treated in the estimation of domestic factor income ? Profit earned by a branch of a foreign bank in India. |
| Answer» Yes, it will be included in the domestic factor income as profits are earned within the domestic territory of India. | |
| 96. |
From the following data, calculate Net value added at factor cost. |
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Answer» Correct Answer - Rs. 670 Crores Net Value Added at Factor Cost =Total Sales + Production for Self Consumption- Decrease in Stock - Purchase of raw materials - Electricity Charges- (GST-Subsidy) = 1000+120-70-300-50-(70-40) =Rs. 670 Crores |
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| 97. |
From the following data relating to a firm, calculate its net value added at factor cost : |
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Answer» Correct Answer - Rs. 280 Lakhs Net Value Added at Factor Cost =(ii)+(iv)-(vi)-(vii)-(iii)+(i) =800+20-50-500-30+40=Rs. 280 Lakhs |
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| 98. |
Calculate Gross Value Added at Factor Cost : |
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Answer» Correct Answer - Rs. 13,000 Gross Value Added at Factor Cost `=(ixxii)+v-vi-vii` `=(1,000 xx 30)+3,000-2,000-12,000-6,000` Rs. Rs. 13,000 |
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| 99. |
Find net value added at factor cost : |
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Answer» Correct Answer - Rs. 15 lakhs Net Value Added at Factor Cost =Sales+ Unsold Output-Single use producer goods-Depreciation-Taxes on productionn `=20+2-5-1^(**)-1` =Rs. 15 lakhs |
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| 100. |
Calculate value of output from the following data : |
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Answer» Correct Answer - Rs. 200 lakhs Value of Output =Net value added at factor cost + Intermediate consumption+Depreciation+(GST-Subsidy) =100+75+10+(20-5) =Rs. 200 lakhs |
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