Question

Q. 1 Identify whether following transactions are economic or non-economic. [25]

1.Mr. Dhoni started business by bringing cash ₹ 1,00,000.

2. Opened Bank account by depositing cash ₹ 40,000.

3. Appointed Bhumika as a clerk and fixed the salary of ₹10,000 per month.

4. Purchased goods worth ₹ 20,000 on cash from Ganesh.

5.Sold goods worth ₹ 5,000 on credit to Ferin.

6. Distributed goods of ₹ 1,000 as free sample to Mahima.

7. Received goods of ₹ 500 as free sample from Ravina.

8. Paid wages ₹ 2000.

9. Received an order of ₹ 10,000 from Samir for supply of goods on cash.

10. Borrowed ₹ 20,000 from Manish.

11. Paid shop insurance ₹ 10,000 by cheque.

12. Paid Life Insurance of ₹ 50,000 by cheque.

13. Received notice of Property Tax for shop to paid of ₹ 7,000 from Municipal Corporation.

14. Paid Property Tax for shop of ₹ 7,000 to Municipal Corporation.

15. Decided to gift saree worth ₹ 10,000 to wife.

16. Purchased Saree worth ₹ 10,000 for wife and paid from business account.

17. Paid College fees of ₹ 40,000 of daughter Richa from business.

18. Goods worth ₹ 1,00,000 is stolen from shop.

19. Got change of ₹ 2,000 from bank into coins of ₹10.

20. Goods of ₹ 12,000 was sold to Nayan for ₹ 10,000.

21. Gave donation of ₹ 251 for Ganesh Utsav.

22. Placed an order of ₹ 5,000 to Kanji for material to be despatched on Friday.

23. Received cheque of ₹ 2,000 as a commission and deposited the same into bank.

24. Bank approved Overdraft facility of ₹ 50,000.

25. Purchased dress for daughter worth ₹ 5,000 and paid from personal account.​

Answer 1

Answer:

they are economic