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प्रश्न
Answer in brief.
State any four merits of the Joint Hindu Family Firm.
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उत्तर
Merits of Joint Hindu Family are as follows:
- Easy Formation: Joint Hindu Family Firm can be easily formed. The formation is simple. Registration is also not compulsory. There is no limit on minimum or maximum members in the business. Family members become coparceners by birth in the family.
- Quick Decision: Only the Karta is involved in the decision making process. This helps to make quick decisions in business. If decisions are taken quickly there can be prompt actions.
- Business Secrecy: Complete business secrecy can be maintained. All decisions are taken by Karta only. Coparceners cannot even inspect books of accounts. There is no compulsion to publish books of accounts.
- Co-parceners Liability: The liability of co-parceners is limited. It is to the extent of their share in Joint Family Business. Private property of co-parceners cannot be attached to business property.
APPEARS IN
संबंधित प्रश्न
Distinguish between the following:
Joint Hindu Family firm and joint stock company
Define ‘Joint Hindu family business/firm’.
The Karta in a Joint Hindu family business has _______ liability
Merits and Demerits of Joint Hindu Family?
Select the proper option from the options given below and rewrite the completed sentence.
The members of Hindu Undivided family business are called ________
Select the proper option from the options given below and rewrite the completed sentence.
The Karta in Joint Hindu family Business has ________ Liability.
Compare the status of a minor in a Joint Hindu family business with that in a partnership firm.
Briefly explain the following term: Karta
State True or False:
The maximum number of members is unlimited in Joint Hindu Family Firm.
State True or False:
Joint Stock company can raise huge amount of capital.
Complete the sentence.
The property of JHF business is jointly owned by the ________
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
The members of the Joint Hindu Family firm.
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
Which feature of JHFB is illustrated by the infographic showing “Joint Ownership” by Karta and coparceners?
