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sir there are two definitions of business:
“business is an integrated set of activities and assets, conducted and managed for providing a return.”
“business is set of inputs and processes, which when applied to inputs are capable of producing outputs”
now is there any guidance per se, as to in which type of questions we are are supposed to use the first definition of business and in which the second one?
Extensive guidance may be found here.
https://www.grantthornton.global/en/insights/articles/ifrs-3—definition-of-a-business/
For the exam, just learn the definition and use the data in the scenario
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