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Total of all expenditure incurred during the year...

Use the following information given to answer this question

Total of all expenditure incurred during the year ₤ 80,000m
Indirect taxes on goods and services ₤ 8,000m
Capital consumption ₤ 6,000m

National income is__________

A.

₤ 74,000m

B.

₤ 66,000m

C.

₤ 60,000m

D.

₤ 14,000m

View answer & explanation

Correct answer is B

National Income = Expenditure - Indirect taxes - Capital consumption (Depreciation)
N.I = 80,000 - 8,000 - 6,000 = ₤ 66,000m.

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