Nancy makes some beautiful paper flowers and sells them to her neighbour for 2 600. Her Aunt Mrs. Higgins prepares chocolates for supply to a local bakery. Who is engaged in a business activity and why?

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Solution

Mrs Higgins is engaged in a business activity since she is involved in supplying chocolate to a local bakery regularly. An activity which involves producing and supplying goods and services for profit is a business activity and nancy is not doing business because she is not doing that everyday for her living or to make a profit out of that.Continuity is a very important characteristic of business.

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Question 20

It was Paheli's birthday, her brother Simba was helping her to decorate the house for the birthday party and their parents were also busy making other arrangements. Following were the activities going on at Paheli's home:
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