There are three types of business
(a) Trading Business
Manufacturing
Business
A business in which goods are
purchased and resold after some modification is called manufacturing. For
example: Fertilizer Mills, Sugar Mills, Textile Mills,
Trading
Business
A business in which goods are
purchased and resold without modification is called trading.
For example: wholesaling,
retailing
Servicing
Business
A
business in which services are purchased and sold is called servicing. For
example: Services of Doctor, Lawyer, Banks and Insurance companies
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