A firm hires the services of a chartered accountant and pays fees For the firm payment of fess is nb...........

Economics (CUET) National Income Accounting

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A firm hires the services of a chartered accountant and pays fees. For the firm, payment of fess is:-

Final expenditure

Intermediate expenditure

Investment expenditure

Capital expenditure

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Explanation:

"Intermediate consumption consists of the value of the goods and services consumed as inputs by a process of production, excluding fixed assets whose consumption is recorded as consumption of fixed capital; the goods or services may be either transformed or used up by the production process."