Arrange the following in correct sequence for calculating National Income.

(A) Add Net Factor income from abaord.

(B) Deduct value of Intermediate Goods.

(C) Calculate the value of output.

(D) Deduct Depreciation and NIT.

Choose the correct answer from the options given below:

Option 1 -> This sequence starts with adding net factor income from abroad, which should come at the end after calculating domestic product.

Option 2 -> This sequence incorrectly places adding net factor income from abroad at the beginning instead of at the end.

Option 3 -> This sequence is completely out of order, with calculation of output coming last instead of first.

Option 4 -> This follows the correct logical sequence: first calculate total output, then remove intermediate goods to get value added, then deduct depreciation and NIT to get NDP at factor cost, and finally add net factor income from abroad to arrive at National Income.

Hence, Option 4: (C), (B), (D), (A) -> The correct sequence for calculating National Income is: (C) Calculate the value of output first to know total production → (B) Deduct value of Intermediate Goods to avoid double counting and get Gross Value Added → (D) Deduct Depreciation and NIT (Net Indirect Taxes) to get Net Domestic Product at Factor Cost → (A) Add Net Factor Income from Abroad to finally arrive at National Income. This follows the standard methodology of moving from Gross Output to Value Added to Domestic Product to National Income. -> correct