Sole Proprietorship Characteristics
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Questions and Answers

What is the basis of membership in a Joint Hindu Family Business?

  • Marriage
  • Seniority
  • Inheritance
  • Birth in the family (correct)

    • Who controls and manages a Joint Hindu Family Business?

  • Youngest male member
  • Minor members
  • Karta (eldest male member) (correct)
  • Female members

    • Which of the following is a merit of a Hindu Undivided Family Business (H.U.F)?

  • Effective control by the Karta (correct)
  • Conflicts among members
  • Limited capital
  • Unlimited liability for all members

    • What happens to the business in a Joint Hindu Family after the death of the Karta?

    <p>The next senior male member becomes the Karta</p> Signup and view all the answers

    Why is the liability of all coparceners limited in a Joint Hindu Family Business?

    <p>Due to business structure and laws in India</p> Signup and view all the answers

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