Problem on National income
Providing reasons, describe the treatment assigned to the following which estimates national income.(i) Family members working freely on farm owned by family.(ii) The Payment of interest on borrowings through general government.
Expert
(i) Imputed salaries of such members will be comprised in national income.
(ii) This will not be comprised in national income since it is non-factor payment as the general government borrows just for consumption purpose.
he following information is taken from the financial statements of an entity: 20x4 20x3 Property, plant and equipment $4,600,000 $4,200,000 Accumulated depreciation (1,800,000) (1,350,000) Depreciation expense 560,000 Gain on disposal of PPE 65,000 The asset disposed of had a cost
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