Question

24 Assertion: One single transaction of sale does not constitute business Reasoning: Business involves selling or exchange of goods or services on a regular basis

Select the correct option

a. Assertion is correct, but reasoning is false b. Assertion is false, reasoning is correct c)Both assertion and reasoning are correct
d. Both assertion and reasoning are false​

Answer 1

Answer:

it involves dealings in goods or services on a regular basis. One single transaction of sale or purchase does not constitute business. One of the main purpose of business is to earn profits. ... That is why businessmen make all possible efforts to maximize profits, by increasing the volume of sales or reducing costs.

Conducting an isolated transaction that is complete within 30 days and that is not one in the course of repeated transactions of a like nature does not constitute doing business for qualification purposes. Many states have adopted this provision without any changes and others have altered the time limitation.

Answer 2

Answer:

correct answer is Assertion is false, reasoning is correct