Payment of fees to a lawyer engaged by a firm included/excluded in National Income.

678 viewsDecember 11, 2023National Income and related aggregates

Anurag Pathak28.64K December 7, 2023 0 Comments

Anurag Pathak Changed status to publish December 7, 2023

Add a Comment

1 Answer

Anurag Pathak28.64K Posted December 11, 2023 0 Comments

No,

It is an intermediate expenditure for the firm because it involves the purchase of services by one production unit (firm) from another production unit (lawyer). So, it is deducted from the value of the output of the firm to arrive at the value added. So, it is not included in the national Income.

Anurag Pathak Changed status to publish December 11, 2023

Add a Comment

Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.

Articles: 8142

Telegram Channel

Telegram Channel

1 Answer

1 Answer

Anurag Pathak

Related Questions