1. It is always calculated by adding 5 years to the earlier base year
2. It should generally be a normal year
Which of the above statement/s is/are correct
A
1 only
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B
2 only
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C
Both 1 and 2
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D
None of the Above
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Solution
The correct option is B 2 only <!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}-->
The base year must be a representative year and must not experience any abnormal incidents such as droughts, floods, earthquakes etc. It should generally be a normal year. It must be a year which is reasonably proximate to the year for which the national accounts statistics are being calculated.