Correct answer: (d) I, II and III
Explanation
- A
I and II only
I and II only. The official set keeps III as well.
- B
II and III only
II and III only. That drops I.
- C
I and III only
I and III only. That drops II.
- D
I, II and III
I, II and III. The paper keys all three fiscal-arithmetic lines.
Summary. Official Set A key is (d) all three. Work the identities as printed: revenue expenditure, revenue receipts and the related deficit/borrowing statements are all treated as correct on this paper. Do not drop a limb.
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