Sachin father gifted cricket bat on his birthday is the cost of the bad was rupees 800 few months later Sachin sold it Manish one of a school friend for rupees 850 he was very happy to earn a profit of rupees 50 he was posted by this transaction and after completing is reduced started studying in bat and other support material and the name is Sachin traders he started earning money out of the same his father suggested him to spend more money on social responsibility Sachin then decided to distribute distribute free sports goods to schools which were financially weak and the transaction between Sachin and Manish based on does business transaction why or why not
Answers
Answer:
when sachin sold the bat to manish it is not considered a business transaction since dealings are not on a regular basis.
but when he started a trading firm, business,i.e. buying and selling of bats were on a regular basis . thus it will be considered a business transaction.
yet, again when he started giving free sports goods no money transactions were involved,thus it isn't a business transaction.
Explanation:
the two basic characteristics of business explains why:
1. it is an economic activity: money is involved and there is no place for love, sympathy and affection.
2. dealing should be done on a regular basis, otherwise it is not a business transaction.
for eg.: if I sell my car to someone even at a profit it is not business since i don't regularly sell cars.
No. The transaction between Sachin and Manish cannot be termed as a business transaction since it is not done on a regular basis.
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