Given below are some statements. Read them carefully and choose the correct statement (s) from the given options.
Statement 1: Stocks are defined over a period of time.
Statement 2: Flows are defined at a particular point of time.
Answer & explanation
Correct answer: option 4
The correct answer is option 4: None of the given statement is correct.
Statement 1: Stocks are defined over a period of time. This is incorrect. Flows (NOT Stocks) are defined over a period of time.
Statement 2: Flows are defined at a particular point of time. This is incorrect. Stocks (NOT Flows) are defined at a particular point of time.