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Cooking food at home for the family is not business, but cooking and selling it in a restaurant is, because business needs:
AGrant or gift
BSale or exchange
CRent or lease
DLoan or deposit
Answer & Solution
Correct answer: B. Sale or exchange
1. Goods made only for personal use do not count.
2. Value must pass between seller and buyer.
3. Business needs sale or exchange.
_Source: NCERT Class 11 Business Studies, Chapter 1, Business, Trade and Commerce._
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