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WorksheetsHINDU UNDIVIDED FAMILY BUSINESS
Total questions: 15
Worksheet time: 8mins
A HUF is a business owned by
Any family
Any Indian family
A joint Hindu family
A Hindu individual
Inheritance of property is among
only nuclear family members
all members of the hindu community
all male members of a joint hindu family
all members of a hindu family
A HUF will end when
karta dies
when all members of the HUF decide to end it or there are no more male members left in the HUF
when any one co-parcener dies
when the liability of the HUF is beyond Rs. 1 crore
All decisions of a HUF are made by
all members
karta
karta and all senior co parceners
by all co parceners
Whose liability in a HUF is unlimited
co parceners
karta and co parceners
nobody
karta
The maximum number of members is
no limit at all
50
7
no limit except it's members are from only 3 generations
Membership in a HUF is given by
contribution of capital
birth
agreement
choice
What are the members in Joint Hindu Family business called and how is their liability?
co-partners, unlimited
co-parceners, unlimited
co-parceners, limited
co-partners, limited
Name the act that grants equal coparcenery rights to girl child of the family.
Hindu succession Act, 1956
Companies Act, 2013
Indian Partnership Act, 1932
Hindu Succession act, 2005
Identify the liability of Minor in Joint Hindu Family Business.
Limited
Unlimited
Meaning of Unlimited liability is
unlimited resources may be use
Unlimited payment is to be done
Personal property of proprietor will be use to pay business debt
unlimited time for business
The head of the family, in Hindu Undivided family is called ---------------.
(a)
The members of Hindu undivided family business are called .
Karta
coparcener
parcener
Partner
The head of Joint Hindu Family Business is called as
KARTA
owner
manager
major partner
The eldest person of the HUF is known as Coparcener.
True
False
