Arrange the following steps in calculation of national income, by income method in correct sequence.

(A) Add net factor income from abroad to arrive at national income.
(B) Estimate the factor income paid by each sector.
(C) Identify and classify the income generating units.
(D) Calculating domestic factor income.

Choose the correct answer from the options given below:

(C), (B), (D), (A)

The correct answer is Option (4) → (C), (B), (D), (A)

(C) Identify and classify the income-generating units. → First, we need to identify all the producing sectors or enterprises in the economy.

(B) Estimate the factor income paid by each sector. → Then, we estimate the payments made to factors of production (wages, rent, interest, profit) by each unit.

(D) Calculating domestic factor income. → Next, we add up all the incomes from different sectors to get the Domestic Income (NDP at factor cost).

(A) Add net factor income from abroad to arrive at national income. → Finally, we add Net Factor Income from Abroad (NFIA) to domestic income to get National Income (NNP at factor cost).