Q.1Can the transaction between Rakesh and Nishant be termed as business transactions? Why or Why not?
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(a) No. The transaction between Rakesh and Nishant cannot be termed as a business transaction since it is not done on a regular basis.
(b) Yes. The transaction between M/S Rakesh Traders and other persons can be termed as a business transaction since it involves supply of bats and other sports materials on a regular basis for the purpose of earning profit.
(c) The feature mentioned in above case is Principle-Agent relationship
(d) Value of Charity.
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