One of the limitations of aggregate accounting is that?

[Eugene B]

a. it includes market transactions that should be excluded.
b. it doesn't take depreciation into account.
c. it measures market activity, not social welfare.
d. there isn't enough data available in most developed countries to have national income accounts.

[jerry w]

c. it measures market activity, not social welfare.

The numbers used are based on market activity. There is no objective way to measure social welfare from using aggregate numbers.

The other choices can be easily eliminated. Eliminate a because it would be easy to exclude inapropriate numbers from such accounting. Eliminate b because depreciation is taken into account for certain aggregate numbers. Eliminate d because developd countries do have tons of data available.