Which of the Following Is NOT Included in National Income

question 6

Multiple Choice

Which of the following is NOT included in National Income?

• A)indirect taxes
• B)wages and salaries
• C)net interest
• D)rental income of persons

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Definitions:

Accumulated Depreciation

The cumulative value of depreciation expense assigned to a physical asset from the time it was first utilized.

Major Class of Asset

Represents categories of assets grouped based on their similar financial characteristics, such as cash, inventory, property, etc.

Sum-Of-The-Years'-Digits

A method of depreciation that accelerates the write-off of assets by applying a decreasing fraction to the depreciable amount each year.

Straight-Line Method

A depreciation technique that allocates an equal amount of depreciation expense for an asset each year.