Rakesh's father gifted him a cricket bat on his birthday. The cost of the bat was rs 800. Few months later, Rakesh sold it to Nishant, one of his school friends for rs 850. he was very happy to earn a profit of rs 50. He was boosted by this transaction and after completing his sports materials under the name M/s Rakesh Traders. Rakesh and Nishant both act like an agent as well as principal of each other. Firm soon started earning good profit. RAkesh's father suggested them to spend some money on social responsibilities. they then decided to donate free sports goods to schools which were financially weak.
(a) Can the transaction between Rakesh and Nishant be termed as business transaction? Give reason.
(b) Can the transaction between M/s Rakesh Traders and other persons be termed as business transaction? Give your reason.
(c) Which feature of partnership form of business is mentioned above?
(d) According to you which value motivated the partners to donate sports goods? Give one suitable value.