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Question
Justify the following statement.
Karta is the sole manager of ‘Joint Hindu Family Business’.
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Solution
- The Karta is the eldest or senior most person in the family business.
- A Karta has unlimited liability.
- He has the entire decision making power and he is not binding on the views of the co-parceners.
- Thus, Karta is the sole manager of the Joint Hindu Family business.
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RELATED QUESTIONS
Features of Joint Hindu Family Business
Distinguish between the following:
Joint Hindu Family firm and joint stock company
Define ‘Joint Hindu family business/firm’.
Explain the features of a joint Hindu family firm.
The Karta in a Joint Hindu family business has _______ liability
Co - operative Society Joint Hindu Family Firm
Features of Joint Stock Company?
maximum number of members in a Joint Hindu Family firm is 20.
The form of organisation which comes into existence by law of inheritance.
Distinguish between the following.
Joint Hindu family firm and Sole Trading concern
Compare the status of a minor in a Joint Hindu family business with that in a partnership firm.
State True or False:
The maximum number of members is unlimited in Joint Hindu Family Firm.
Complete the sentence.
The property of JHF business is jointly owned by the ________
Explain the following term/concept:
Joint Hindu Family Firm.
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.
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?
