Abhijith owns an old car. He sells it and buys a new car. While Ajith purchases a few cars for selling at an assured profit. Do Abhijith and Ajith engage in business activities? Give reason.

Abhijith owns an old car. He sells it and buys a new car. While Ajith

1.	Abhijith owns an old car. He sells it and buys a new car. While Ajith purchases a few cars for selling at an assured profit. Do Abhijith and Ajith engage in business activities? Give reason.
Answer» The activity of Abhjith is not a business activity. But we can say Mr. Ajith engages in business activities. Business is a continuous activity, so there must be regularity in its dealings and its ultimate objective is earning profit. Abhijith’s transaction is casual. So it is not a business activity.

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Abhijith owns an old car. He sells it and buys a new car. While Ajith purchases a few cars for selling at an assured profit. Do Abhijith and Ajith engage in business activities? Give reason.

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