Question

Classify the following into business and non business transactions-
1. Rahim starts business with cash.
2. He deposits money into the bank.
3. He buys goods for cash.
4. He takes out money from the shop and gives it to his wife for buying a saree.
5. He attends a family function and gets present worth 3,000.
6. He pays salary to his domestic servant 500/- out of his pocket.

Answer 1

Answer:

1) Business activity

2) Business activity

3) Non Business activity

4) Non Business activity

5) Non Business activity

6) Business activity