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Money — Economics STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsEconomicsMoney2 Marks
Question
Malathi purchased a house through an agent. The agent accepted the commission amount in cash but did not issue a receipt to her.
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Answer

Black money.
Money that is received in cash but not accounted for and on which tax is not paid to Government is called Black Money. In the above case, the agent did not issue a receipt to Malathi, hence it will be a case of Black money.

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