"Profit is not an objective but are requirement of business." Do you agree with this statement? Support your answer with reasons.

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Solution

Yes, I agree with this statement that profit is not an objective but a requirement of business. A business must earn profit because of the following reasons:
(i) Survival
(ii) Growth
(iii) Symbol of efficiency
(iv) Reward for risk bearing
(v) Improves goodwill.

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