WorksheetsForms Of Organisations
Total questions: 10
Worksheet time: 5mins
The Joint Hindu Family Business is controlled by the head of the family who is the eldest member and is called
Ancestor
Entrepreneur
Karta
Co-parcener
(a) is a specific form of business organisation found only in India.
Which of the following are the features of Joint Hindu Family business?
Inclusion of minors
Unlimited liability of the karta
No need for inherited ancestral property
Is found worldwide
What happens after the death of the karta?
Business operations are terminated
State Government takes over the business
Operations are unaffected; business is taken over by the eldest member
Select the correct statement(s).
The joint Hindu Family business does not face the problem of limited capital
The karta suffers from the disadvantage of having unlimited liability.
The Joint hindu family Business is owned and carried on by the members of the Hindu Undivided Family (HUF).
Minors cannot be members of the Joint Hindu Family business.
Which act defines partnership as “the relation between persons who have agreed to share the profit of the business carried on by all or any one of them acting for all.”?
Hindu Succession (Amendment) Act, 2005
New Companies Act, 2013
Indian Partnership Act, 1932
Industrial Disputes Act 1947
In partnership firms, the partners of a firm do not have unlimited liability.
True
False
All members have ___________ ownership right over the property of an ancestor and they are known as co-parceners.
Equal
Limited
Half
Unlimited
Which of the following are the merits of Joint Hindu Family business?
Limited managerial ability
Effective control
Continued business existence
Increased loyalty and cooperation
Two people coming together for charitable purposes will not constitute a partnership.
True
False
