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Question
Explain the following term/concept:
Karta.
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Solution
- Karta is a senior most member of the family, who runs the Joint Hindu Family Business.
- Karta has unlimited liability in such type of business.
- Karta has the right to manage the business.
- Karta need not consult anybody about business decisions.
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RELATED QUESTIONS
Joint Hindu Family firm and Joint Stock company.
Features of Joint Hindu Family Business
Distinguish between the following:
Joint Hindu Family firm and joint stock company
Explain the features of a joint Hindu family firm.
Features of Joint Stock Company?
The form of organisation which comes into existence by law of inheritance.
Select the proper option from the options given below and rewrite the completed sentence.
Limited managerial skill is the ________ of Joint Hindu family business.
Write a word or a phrase or a term which can substitute the following.
The senior most family member of joint Hindu family firm.
Distinguish between the following.
Joint Hindu family firm and Sole Trading concern
State True or False:
The liability of KARTA is unlimited.
State True or False:
The maximum number of members is unlimited in Joint Hindu Family Firm.
Answer in one sentence.
What is Joint Hindu Family business?
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?
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.
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?
