Question

Leela passed her XIth class with 82% marks and got first position in her class. Her mother bought her a new bicycle as reward and sold her old books of class XI th to a second hand book shop for Rs.750. Does this activity of sale of old books be termed as business activity? Why?​

Answer 1

Explanation:

Leela passed her XIth class with 82% marks and got first position in her class. Her mother bought her a new bicycle as reward and sold her old books of class XI th to a second hand book shop for Rs.750. Does this activity of sale of old books be termed as business activity

Answer 2

It is not a business activity as it is not being done on regular basis.

• Business is an action performed consistently with the sole target of profit. Regardless of whether a business sells old PCs or utilized furnishings, it won't be incorporated as profit, but income from different sources.
• Selling old books to a recycled shop after being promoted is not a business movement as it is accomplished for individual use.
• Since Leela has passed, thus previous books are not relevant for her. So her mother sells them. This activity can not be performed regularly but is possible only once in a year after being promoted to a new class.