Q. Consider the following statements regarding Natural Resource Accounting (NRA):
1.It is an accounting system that deals with stocks and stock changes of natural assets, comprising biota, subsoil assets, water and land with their aquatic and terrestrial ecosystems.
2.It captures details of 34 major minerals, 58 minor minerals and all four fossils fuels.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: C
Notes:

Explanation: NRA is an accounting system that deals with stocks and stock changes of natural assets, comprising biota (produced or wild), subsoil assets (proved reserves), water and land with their aquatic and terrestrial ecosystems.

  • The asset accounts capture details of 34 major minerals, 58 minor minerals and all four fossils fuels.
  • Its aim is to provide information on the state of natural resources and the changes affecting them.

Source: FORUMIAS