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what is meaning of nature of business ? |
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Answer» NATURE OF BUSINESS-i)AN ECONOMIC ACTIVITYii) PRODUCTION OR PROCUREMENT OF GOODS AND SERVICESiii)SALE OR EXCHANGE OF GOODS AND SERVICESiv) REGULARITY IN DEALINGv) PROFIT MOTIVEvi) UNCERTAINTY OF RETURNvii)ELEMENT OF RISKS Nature of business risk : (i) Risk is the result of uncertainities , (ii) Risk is unavoidable, (iii) Degree of risk varies with the size of business , (iv) Profit is consideration of risk - taking , (v) Risk depends on the nature of business . |
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