Question

State whether the following statement is true or false.

National income is computed every year.

Options

• True

• False

Answer 1

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.