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Question
Explain the following term/concept:
Joint Hindu Family Firm.
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Solution
- It is a form of business organization which is carried from one generation to another generation.
- It comes into existence by the operation of Hindu Law.
- This form organization is found in India only.
- The senior most member of the family is called ‘Karta’ while other members are called ‘Co-parceners’.
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RELATED QUESTIONS
Joint Hindu Family firm and Joint Stock company.
The Karta in a Joint Hindu family business has _______ liability
Select the proper option from the options given below and rewrite the completed sentence.
Limited managerial skill is the ________ of Joint Hindu family business.
Select the proper option from the options given below and rewrite the completed sentence.
The Karta in Joint Hindu family Business has ________ Liability.
Write a word or a phrase or a term which can substitute the following.
The members of the Joint Hindu family firm.
Briefly explain the following term: Karta
State True or False:
The liability of KARTA is unlimited.
Correct the underlined word and rewrite the following sentence.
In Joint Hindu Family business, the senior most member of family is called as Co-parcener.
Explain the following term/concept:
Karta.
Study the following case situation and express your opinion:
Mr. Raghunath is running a business from the last 30 years. This business is ancestoral business of Mr. Raghunath. Kiran and Naman, two sons of Mr. Raghunath are helping him along with their wives.
- Find out the type of business.
- Who is Raghunath?
- What Kiran and Naman are called?
Distinguish between.
Joint Hindu Family Firm and Joint Stock Company.
Answer in brief.
State any four merits of the Joint Hindu Family Firm.
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
Who manages and leads the Joint Hindu Family Business?
How is membership in a Hindu Undivided Family acquired?
What is the main disadvantage of JHFB shown in the notes?
Which feature of JHFB is illustrated by the infographic showing “Joint Ownership” by Karta and coparceners?
